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| CONSUMER TIPS |
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The latest edition of Consumer Tips is online. This month's topic is on budgeting.
A recent study showed that 4 out of every 10 Americans spend at least $1.22 for every dollar they earn. With our economy in a bit of chaos, perhaps this would be a good time to review your personal or household budget. If you don’t have a budget, this would be an excellent time to start.
Feel free to insert your bank's logo and use these Consumer Tips columns as statement stuffers or post them online for your customers.
To view the September Consumer Tips column, CLICK HERE. |
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: What days are banks required to be closed by law?
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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| IBAT PAC AUCTION |
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Not able to attend the IBAT Convention? You can still participate in the PAC Auction! Check out the items in the updated PAC Auction Guide and ask one of your friends or colleagues to bid on some of the items for you.
And to everyone who has already contributed, thank you! |
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| SOLUTIONS FROM SERVICES |
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THE COY LEWIS HOTLINE
UNCLE SAM is looking for YOU!!!
All FEDERAL contractors are required to file their EEO-1 and VETS-100 report no later than SEPTEMBER 30, 2007.
If you are a first time FEDERAL contractor by having to design an AFFIRMATIVE ACTION PROGRAM (AAP), your bank will need to file the above reports also. Banks with 50 or more employees for 20 calendar weeks are required to have an AFFIRMATIVE ACTION PROGRAM. Some banks think that having to implement an AAP is optional.
Be aware that if you do not have an AAP and subsequently are contacted by the Department of Labor for a desk audit or on site audit, you will be given only 30 days and in some cases maybe 15 days to present your PLAN. For more information on AAP’s, contact Coy Lewis Company - 800.569.3713. |
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| BAKER WEEKLY |
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President Bush has announced a plan to help certain low- to middle-income families with their increasingly burdensome mortgage payments. The plan empowers the Federal Housing Administration to help guarantee loans for credit-troubled homeowners with rising adjustable mortgages, along with a proposal to offer tax-breaks for forgiven debt from the lenders. Currently, the IRS classifies forgiven debt as income. Ben Bernanke, Chairman of the Federal Reserve, indicated that the Fed “will act as needed” to stem any continued liquidity crisis. Following the President’s comments, the Treasury market sold-off as investors reacted to a possible short-term boost to the economy. The 2Yr T-Note currently yields 4.14%, while the 10Yr T-Note yields 4.54%. Stocks generally liked the President’s initiative, as the Dow Jones was up about 178points, along with the battered mortgage-lender Countrywide, which was up $0.21 Friday. 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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| IBAT 33RD ANNUAL CONVENTION |
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September 29 - October 2, 2007
Renaissance Worthington Hotel, Fort Worth
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| IBAT EDUCATION FOUNDATION |
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You are invited to attend the 6th Annual IBAT Education Foundation Gala on October 2, 2007 in Fort Worth. Dancing Under the Stars is not to be missed.
Come learn about the work that IBAT is doing in financial literacy in Texas, obtain a report card on the CRA support for your association's efforts, hear the benefits for your community and your bank, and some of the legislative benefits for IBAT. Plus, be entertained by premier pianist Heather Sullivan and her quartet.
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| TECHMECCA |
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Have you made your arrangements for TechMecca 2007? With the great rate at the Red Rock Resort ($139), affordable airfare from SouthWest Airlines (just booked my round trip for $254), and $50 off the registration price til the end of September, you cannot afford to miss it.
Be sure to check out these sessions:
Latest Trends In Phishing & Social Engineering
Erik Petersen - Vice President of Professional Services, SecureWorks
It is no surprise that phishers tend to target smaller, more vulnerably perceived community financial institutions. What are they up to now? This session details various methods of social engineering that phishers are using and offers some practical solutions.
Preventing Bad Headlines: The Five Things Every CEO Needs To Know About Information Security
Brad Smith - President/CEO, Abound Resources
Do you lie awake at night worrying whether you will awake to headlines that your financial institution has had an info security breach? Smith explores the five non-techie things you need to know and you need to do to prevent an information security breach. He also tells you the five things you need to do if you have a breach (just in case).
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| ON THE EDUCATION FRONT |
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Don't miss the 2007 FDIC Banker Outreach Programs held in Austin on October 25th and Richardson on November 6th.
IBAT and TBA are co-sponsoring these events to insure your needs, as a community banker, are met with the quality education from the FDIC.
We encourage all of your directors, bank officers, and compliance officers, along with the President and CEO. In this day in the banking industry you can not miss the timely breakout sessions.
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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 2007.
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September 29 - October 2, 2007 - Fort Worth |
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FDIC Banker Outreach
October 23 - Richardson
October 25 - Arlington |
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Financial Literacy Summit
December 4-5 - TBD |
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Winter Summit VIII
January 27-29 - South Lake Tahoe, NV | | |
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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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