Baker Market Update: April 17, 2017

For everyone who is not United Airlines, this is a short week. Markets will be closed on Good Friday, but YouTube never sleeps. Nor has it been a particularly good week for those bearish prognosticators who have been relentlessly, and perhaps a bit wistfully, trying to give the bond market its last rites. An unusually high level of unrest in the always unrestful world of geopolitics has sparked a bond rally as apprehensive investors seek solace and safety in one of the few places where those needs can be fulfilled, the USA.

Read More in the Baker Market Update

April is Community Banking Month

Community Banking Month is here. Once again, Governor Abbott has issued a proclamation recognizing April as Community Banking Month in Texas.

In the proclamation, he states, “I encourage all Texans to acknowledge the civic contributions of community banks and the role they play in strengthening local economies and providing excellent personalized service to their banking customers.”

We appreciate the many banks that recognize this month by hosting celebrations and other customer-focused events. As a reminder, ICBA offers a Community Banking Toolkit that includes a customizable news release, customizable op-ed, sample social media posts, an infographic and other helpful information.

Staff contact: Christopher Williston, clwilliston@ibat.org, 512-275-2208

Legal Ease: April 13, 2017

If we provide a loan estimate and the applicant does not express their intent to proceed, do we have to provide either an Adverse Action Notice or a Notice of Incomplete Application within 30 days?

Learn the answer here.

Staff contact: Kelly Goulart, kgoulart@ibat.org, 512-275-2231

Legal Ease is chosen from questions received through the IBAT Compliance Adviser Helpline, available to IBAT members free of charge at 1-800-749-4228 or kgoulart@ibat.org. IBAT members can also read and/or initiate discussions with other community bankers in the IBAT Compliance Forum. The Legal Ease archives are also available on IBAT2GO, the official IBAT mobile app.

Hensarling Message About CFPB

In case you missed it, House Financial Services Committee Chairman Jeb Hensarling delivered a powerful opening statement at last week’s hearing with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray.

Before Director Cordray presented the semi-annual report of the CFPB, Chairman Hensarling shared his thoughts about both Cordray and the CFPB. He touches on the CFPB’s impact on access to credit, pre-paid card products, credit card rates, auto loan rates, mortgages and more. Below are a few highlights of what the Chairman had to say:

  • “I am also surprised that you are here because, as you are well aware, the President under the PHH case can dismiss you at will. Under Dodd-Frank, you can be removed for cause. Either way, I believe the President is clearly justified in dismissing you and I call upon the President – yet again – to do just that, and to do it immediately.”
  • “Under Mr. Cordray’s leadership, the CFPB has shown an utter disregard for protecting markets and has made credit more expensive and less available in many instances; this is particularly true for low and moderate income Americans. What is also clear is that under Mr. Cordray’s leadership, the CFPB has acted unlawfully, routinely denied market participants due process and abused its powers.”
  • “For all the harm inflicted upon consumers, Richard Cordray should be dismissed by the President.”
  • “For conducting unlawful activities, abusing his authority and denying market participants due process, Richard Cordray should be dismissed by our President.”
  • “Not only must Mr. Cordray go, but this current CFPB must go as well.”

Chairman Hensarling concludes by saying, “This tyranny must end and the people’s constitutional rights returned to them.” Watch the Chairman’s full opening statement here.

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

ICBA Meets with Treasury

Last week, seven ICBA bankers met with Treasury Department officials and staff – including Treasury Secretary Steven Mnuchin – to discuss how federal policymakers can address the impact of overregulation on community banks and more importantly, the customers they serve.

The meeting was held under President Trump’s executive order directing the Treasury Department to review existing laws, treaties, regulations, guidance, reporting and recordkeeping to determine if they promote or inhibit federal regulation of the U.S. financial system. The community bankers in attendance detailed specific regulations that are limiting access to credit for consumers and small businesses as well as inhibiting economic and job growth in local communities. Additionally, they advocated for ICBA’s Plan for Prosperity and encouraged other meaningful regulatory relief efforts.

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

ICBA of New Mexico 2017

The Independent Community Bankers Association of New Mexico invites all IBAT members to its 2017 Banker Outreach and CEO/Board Forum at La Fonda on the Plaza Hotel in Sante Fe, May 25-26. Designed for CEOs, senior bank executives and board members, this forum will include FDIC outreach training as well as other timely information.

Spouses and guests are welcome to attend a docent tour of the historic La Fonda Hotel. For additional information or to register for this event, click here. IBAT members will receive a discounted registration fee. 

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

Day at the Capitol Update

A heartfelt thank you to all who attended last week’s IBAT Community Banking Day at the Capitol, April 4-5. We are proud to have hosted more than 140 community bankers and associate members at the only event dedicated to ensuring that the voice of Texas community bankers is heard by Texas elected officials. While IBAT is active in the political process, nothing is more important than constituents meeting with their local lawmakers to express concerns regarding their industry and local communities.

The Legislative Day began on April 4 at the Sheraton Hotel in Austin, where attendees heard from a variety of speakers who shared their unique experiences working in Texas politics. Brian McCall, Chancellor of the Texas State University System and past member of the Texas House of Representatives for 20 years, kicked off the afternoon. McCall currently serves on a community bank board and is intimately familiar with the struggles community bankers are facing. IBAT’s Meredyth Fowler then moderated a panel and participated in discussions with two former Capitol staffers – Jesse Ancira, former Chief of Staff to the Speaker of the House, and Erika Akpan, former Senior Advisor for Business and Regulatory Affairs. They both shared inside knowledge about how the legislative process really works, how legislation can die or move through the process, the dos and don’ts of advocating for your issues, and the inside political games that are a big part of every legislative session.

Later in the afternoon, we moved to the Capitol where the group heard from:

  • Stan Lambert and John Wray, two members of the Texas House of Representatives who are community bankers;
  • Tan Parker, the House Committee on Investments and Financial Services Chairman and the House Republican Caucus Chair;
  • Senators Kelly Hancock, the Senate Committee on Business and Commerce Chair, and Van Taylor;
  • Texas Department of Banking Commissioner Charles Cooper.

If you would like more in-depth information about current legislative happenings, check out yesterday’s Legislative Insider.

Staff contact: Steve Scurlock, sscurlock@ibat.org, 512-275-2226

ADA Lawsuit

As reported earlier, IBAT and TBA have settled their barratry suit against the firms who sent ADA claims to Texas banks. A mutual and confidential settlement agreement was entered into by all parties. If your bank received one of these claim letters and you need evidence of this settlement, please let IBAT know by contacting Kelly Goulart, IBAT’s Regulatory Compliance Manager. He will send you a copy of the settlement with a clear confidentiality legend. This document may then be used, subject to continued confidentiality, to close your complaint file and share with your insurer (if you filed a claim), your auditor (upon request) and regulators who request it.

Remember this is only a settlement as to these parties. It is still possible that you could receive a complaint from a different consumer or law firm. In that event, please contact IBAT so we can check to see if the new claim is actually released.

Also, please review the voluntary standards  posted on our website. If you have not done so, contact your vendor for your website maintenance to determine if your site needs upgrades to make it reasonably accessible to the blind and visually impaired. We do not expect official standards until sometime in 2018.

Staff contact: Kelly Goulart, kgoulart@ibat.org, 512-275-2231

LD Roundup 2017

We're excited to announce that entertainment for the 32nd Annual Leadership Conference has been booked. Stoney LaRue will join us on Friday, June 23, for Family Fun Night. 

Stoney LaRue makes real-life, thinking man's music. Seriously, how many other singer-songwriters would say this kind of thing about their own output: "You have to be careful about what you put out there and what you sing about, because it's a little like the Laws of Attraction," LaRue says. "You've either lived it or written about it, or you're writing about it and you're gonna." So much country music today chases inexact images of imaginary roads leading to nowhere, allegedly ambling a pickup truck down dusty roads to some idealized, nonexistent party.

The Texas native-turned-longtime Oklahoma resident has been chasing his own dream down many roads for a long time. He's hit the occasional pothole that sidelined him for awhile, never veering from his internal call to chronicle life's ups and downs. "I've always been motivated by and came up under the style of old Woody Guthrie songs," LaRue says. "It's always been about talking to the people."

Bring the family to Horseshoe Bay, June 22-24, and enjoy the education, unmatched leadership lessons and plenty of family activities. If you have not had a chance to register for this event, please be sure to do so soon. Click here for additional details and the full agenda. 

Staff contact: Julie Courtney, jcourtney@ibat.org, 512-275-2227

Baker Market Update: April 10, 2017

On a normal, first-Friday-of-the month, the latest jobs report would command the attention of financial market participants. But, America’s overnight missile barrage into Syria has scooped the Bureau of Labor Statistics and garnered much of the world’s focus this morning. That focus is a little fuzzy when it comes to identifying what forces are behind today’s modest bond rally. Geopolitical unrest is generally a good reason for a rally, and we certainly have that. Weak employment reports also head the list of usual suspects, and we have that, too.

Read More in the Baker Market Update

Dell Deals

Don't forget to take advantage of current Dell deals between now and May 1, 2017! IBAT member banks, bank employees and customers can take advantage of the following specials:

  • Save an additional 5% off select OptiPlex/Latitude PCs (Coupon EXTRA5%PC)
  • Save an additional 5% off select Inspiron/XPS PCs (SAVE5%PC)
  • Save 10% on Precision Workstations (EXTRA10%PWS)
  • Save 10% on PowerEdge Servers $899+ (EXTRA10%PE)

These savings are stacked on top of the approximately 30% savings IBAT members enjoy on all orders from Dell. Ordering is easy; just visit Dell's website or contact Bryan Horten, IBAT’s Strategic Account Manager, at 512-942-9120 to order. As a reminder, whenever ordering Dell equipment please be sure to include the unique Dell/IBAT link number GS126658178.

Staff contact: Curt Nelson, cnelson@ibat.org, 512-275-2240

President Issues a Proclamation

 Office of the Governor

 Greg Abbott

  Please be advised that the President has issued the order below directing flags be flown at half-staff on Thursday, April 6, 2017, in respect for the memory of former U.S. Senator, NASA astronaut and Navy aviator John Glenn.  Please contact me if you have any questions.

Greg Davidson

Gregory Scott Davidson, Executive Clerk and

Director of Constituent Communication Division

Office of the Governor ● P.O. Box 12428 ● Capitol Station ● Austin, Texas 78711



Office of the Press Secretary


April 5, 2017





As a mark of respect for the memory of John Glenn, I hereby order, by the authority vested in me by the Constitution and the laws of the United States of America, that on the day of his interment, the flag of the United States shall be flown at half- staff at the White House and upon all public buildings and grounds, at all military posts and naval stations, and on all naval vessels of the Federal Government in the District of Columbia and throughout the United States and its Territories and possessions until sunset on such day.  I also direct that the flag shall be flown at half-staff for the same period at all United States embassies, legations, consular offices, and other facilities abroad, including all military facilities and naval vessels and stations.

IN WITNESS WHEREOF, I have hereunto set my hand thisfifth day of April, in the year of our Lord two thousand seventeen, and of the Independence of the United States of America the two hundred and forty-first.


Consumer Tips

IBAT's April Consumer Tips article recognizes National Financial Literacy Month and offers tips to help children understand financial basics. These tips discuss ways to start talking and teaching your kids about basic money matters, no matter their age.

Please feel free to share the April Consumer Tips with your bank customers.

Staff contact: Lindsey Gehrig, lgehrig@ibat.org, 512-275-2215

32nd Annual LD Conference

The IBAT Leadership Division is pleased to announce that registration is now open for its 32nd Annual Leadership Conference. This annual flagship event is scheduled to take place June 22-24, 2017 at Horseshoe Bay Resort. This year's theme, Leadership Roundup, will have great leadership lessons and education for all. 

We have an engaging lineup of featured sessions and speakers, including:

  • Leadership and Legacy (Joe Serio)
  • Rethinking Toast: Because the Problem is Never the Problem (David Norris)
  • Leadership Lessons: An Interview with Chris Williston
  • The Champion's Way: What It Takes to be a World Champion Leader On and Off the Field (Ben Utecht)

Plan on joining us in Horseshoe Bay this June, and don't forget to bring the family. We'll have plenty of activities for the family and kids, including Money Camp and Family Fun Night. Click here for the full agenda.

Staff contact: Julie Courtney, jcourtney@ibat.org, 512-275-2227

CFPB Reform

ICBA issued a call to action last week, asking community bankers to spread the word on CFPB reform through a customizable op-ed. The goal is to have as many community bankers as possible – in Texas and across the country – submit this op-ed to local media to help build support for meaningful CFPB reforms at this crucial time when Congress is considering regulatory relief.

ICBA asks community bankers to include specific examples of how the CFPB has negatively affected their ability to serve local customers, including mortgage borrowers and small businesses.

We encourage your assistance spreading the word about how common-sense reforms to the CFPB will have a positive impact on communities nationwide. IBAT is here to assist with this and any other advocacy efforts.

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

145th Assembly for Bank Directors

Mark your calendar for the 145th Assembly for Bank Directors at the Fairmont Le Château Frontenac in Quebec City, Canada, September 1-4, 2017. You’re invited to join your bank director and senior management peers from across North America for Community Banking: Rising to the Industry’s Greatest Challenges, offered by the SW Graduate School of Banking Foundation.

Presented by industry insiders and renowned strategists, topics on the agenda include critical issues bank boards are facing nationwide, such as cybersecurity, social media, bank mergers and acquisitions, and more. Workshops will drill down further so participants can gain a complete understanding of what is expected of today’s boards of directors and their senior management.

Availability is limited so register now.

Staff contact: Chris Williston, cwilliston@ibat.org, 512-474-6889

2017 Lending Summits

New for 2017, IBAT is offering a series of bank lending educational programs in April in an effort to minimize employee time away from the bank.

We have combined three unique lending summits into one week—all held at the Omni San Antonio Hotel at the Colonnade. The three programs offer strategic insight into regulatory “hot buttons,” lending policies, credit analysis procedures and interactive case studies.

Register or learn more about 2017 Appraisals, held April 18; 2017 Cash Flow Analysis, held April 19; and 2017 Credit Analysis, held April 20.

Staff contact: Jessica Hernandez, jhernandez@ibat.org, 512-275-2207

Community Bankers Speaking Up

Today, more than 125 community bankers and industry supporters will descend on the Capitol to make the voice of Texas community bankers heard in the Texas Legislature. The timing couldn’t be more appropriate, as several items on IBAT’s proactive legislative agenda will be heard in committee throughout the day on Tuesday. 

Among those items are:

  • SJR 60/HJR 99, much-anticipated legislation to provide some relief in the area of home equity loans. 
  • SB 714, which cleans up changes that were made to the new account form for multi-party accounts during the last legislative session.
  • SB 1381/HB 2839, allowing merchants to require photo identification at the point of sale for credit or debit card purchases.

Additionally, IBAT Chairman Darla Rooke will provide testimony on HB 1954, which would eliminate the definition of “convenience account” and “trust account” from the Estates Code.

These and other issues are detailed on the IBAT website.

“We are proud to represent an industry that answers the call when asked to step up and speak out on the issues of concern,” said IBAT President and CEO Chris Williston.  “We anticipate a very successful day at the state Capitol.”

Staff contact: Steve Scurlock, sscurlock@ibat.org, 512-275-2226