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| RECENT NEWS |
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Early Voting Starts October 23!
The elections are upon us...as you've no doubt noticed the plethora of imaginative political ads, signs and "opportunities" to attend political events. As distasteful as this process may be, these elections have a significant impact upon you personally and professionally. We are in process of putting together a full listing of those candidates supported by the IBAT PAC and IBAT FedPAC (we are still getting checks out as this is being written!), and will have that available for you prior to the start of early voting.
In the meantime, we have worked closely for a number of years with the Texas Civil Justice League (TCJL), one of the leading tort reform groups in Texas. TCJL has prepared a very impressive recap of their endorsements for Supreme Court and Appeals Courts justices, and we urge you to review this document as you consider your selections in these races.
Wire Transfer Tax
IBAT testified earlier this week at an interim hearing in the Senate Finance Committee on a "holdover" issue from the last session which would place a 50 basis point fee/tax, up to $5 per transaction, on all wire transfers to foreign countries. The monies generated from this proposal would go to offset the ballooning costs of indigent health care. A noble purpose indeed, but not one that should create additional costs on our industry. As the only business group in attendance, we reiterated our opposition to this proposal, and discussed the particular competitive issues this proposal raises for Texas-domiciled banks - the out-of-state chartered banks would simply initiate wires from another location, thus avoiding this fee altogether - among other problems we have with this bill. We will closely monitor and weigh-in where necessary on this and other legislative proposals impacting your bank. |
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| ON THE HILL |
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FCS' HORIZONS Project Could Significantly Reduce Your Bank's Growth and Earnings!
The Farm Credit System (FCS) wants to use its government status to take retail business directly away from your community bank. ICBA and IBAT need your help to stop this misguided encroachment against your bank.
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: If a customer requests a wire transfer by phone, can we accommodate that?
To find out the answer, click on the flashing question mark. And you can also check out our searchable database of other frequently asked questions. |
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| SOLUTIONS FROM SERVICES |
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Looking for a professional to fill a position at your financial institution? If so, you'll have to visit IBAT's online Job Bank. The Job Bank is an online "meeting place" for financial institution employers and job seekers. This is a simple classified ad system to post Positions Available - for employers and a way to post Positions Wanted - for job seekers. Anyone in community banking or the financial services industry (banker or vendor) may post a job opening. Visit the IBAT Job Bank today!
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| IBAT EDUCATION FOUNDATION |
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Question: What 3 suggestions does "Money Management for Teens" offer as everyday things to do to save money?
Answer: 1) Set goals, 2) Have a strategy for saving money, and 3) Cut back, not out!
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| BAKER WEEKLY |
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Energy prices continue to fall sparking additional consumer spending...The U.S. trade deficit widened to a record $66.9B in August as we imported more consumer goods and computers for businesses...Yesterday, the Fed released its Commentary on Current Economic Conditions, better know as the Beige Book, detailing the state of affairs within each of the 12 federal districts...Read more in this week's Baker Weekly.
Although this information has been obtained from sources, which we believe to be reliable, we do not guarantee its accuracy. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
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ON THE EDUCATION FRONT |
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2006 FDIC Banker Outreach Programs
November 2-3, 2006 - San Antonio
November 8-9, 2006 - Dallas (Richardson)
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COMING SOON |
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For a complete listing of upcoming events, click here. Meanwhile, please mark your calendar for some of our key events for 2006.
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Contact IBAT or if you have comments or questions about this newsletter,
email or call Bonnie Kankel at (800) 749-4228. |
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