It’s sad that during times of tragedy and disaster, there are evil folks out there who will try to take advantage of those who are already hurting. Unfortunately that’s our current reality. Click here to access FEMA-prepared tips to defend yourself from fraudsters.
When it comes to a situation like this, the initial flooding may not be the only damage you need to consider. Mold and mildew can have a serious impact on your health long after clean-up is done. Click here to learn how you can clean, dry and discard mold in your bank or home following a flood
Whether you sustained damages during the recent Texas flooding or want to help those who did, it’s important to be cautious. Please share the above tips with others in your bank and community.
Last week, the Federal Communications Commission (FCC) approved new robocalling rules that reject most of the entreaties of banks and other companies. The Telephone Consumer Protection Act (1991) prevents banks and other businesses from making robocalls to a cell phone without the consumer's prior consent. Banks requested that the FCC change the standard so they would not be fined when unintentionally reaching the wrong person, particularly because there is no comprehensive database showing if a phone number has been reassigned.
The FCC’s rules carve out an exemption for the first wrong-number phone call but not for any subsequent calls to that number. Neither marketing nor debt-collection calls are allowed under these exemptions. However, the new rules exempt bank calls to customers concerning fraud alerts.
After many months of discussing .BANK, the general availability registration period is upon us. As a reminder, this is a new and more secure Internet domain for the banking industry.
ICBA, in partnership with EnCirca, offers a variety of resources about the registration process, how to secure a .BANK domain and why it’s encouraged to secure your bank’s domain name. Additionally, CalTech provided an information flyer to help clarify the process.
ICBA members using EnCirca for .BANK registration will receive a 10 percent discount. The process is relatively simple, and we highly recommend you review this information and begin the necessary steps to register, if you haven’t already done so.
Last week, Representative Kenny Marchant introduced legislation (The Capital Access for Small Business Banks Act - H.R. 2789) to help Subchapter S banks raise capital. As introduced the bill would:
- Raise the limit on S-Corp shareholders from 100 to 500;
- Allow S-Corp banks to issue preferred stock without a cap;
- Allow dividends on preferred stock to be deductible by the bank; and
- Allow dividends issued to preferred stockholders to be treated as ordinary income.
“Capital formation is a top-burner issue for all community banks, especially Sub S banks,” said IBAT President and CEO Chris Williston. “We thank Representative Marchant and his staff for recognizing the importance of this issue and putting forth legislation for the nation’s S-Corporation banks.”
IBAT also thanks Pat Kennedy of The Subchapter S Bank Association and Cynthia Blankenship of Bank of the West in Grapevine for their advocacy efforts on this and other issues of concern to the 2,100 banks organized under Subchapter S.
The Fed’s Open Market Committee met this week and continued to plot their path toward “normalized” monetary policy. Janet Yellen and friends scattered their dots carefully to punctuate the fact that theirs would be a tortoise-like tightening (most likely) and nothing for markets to fear. Yellen said she’s pleased with the economy’s improvement since the end of an ugly first quarter, but she’s still looking for more “decisive” evidence of a durable turnaround. Bond prices rallied after her press conference as the 2yr T-Note yield, notable for its tendency to follow Fed expectations, dropped several basis points to .63%. The 10yr remained range-bound between 2.25 and 2.40%, and sits at 2.28% as of Friday morning. Fed Funds futures project a 53% probability that the funds rate will remain below .50% by year-end.
As we celebrated Sine Die yesterday, the 84th Texas Legislature officially came to a close. IBAT would like to thank our dedicated elected officials for their hard work throughout the last five months. We are proud of our accomplishments on behalf of Texas community bankers this session, which include addressing issues related to debit card surcharge prohibition enforcement, payment for discovery of records, multiple party account payees and patent trolls.
While we were not successful in passing legislation related to data security breaches, gift card fraud and property tax lenders, we certainly moved the needle on these topics and created both broader awareness and support of these ongoing and increasingly costly problems.
AFFECTED TEXAS NWS REGIONS:
San Angelo, Fort Worth, Houston/Galveston, Corpus Christi
Brownsville, Austin/San Antonio
THIS IS A MISSING SENIOR ALERT ISSUED BY THE TEXAS SILVER ALERT NETWORK
THE COMAL COUNTY SHERIFF’S OFFICE IS SEARCHING FOR CLUTIS MALCOLM BECK DIAGNOSED WITH A COGNITIVE IMPAIRMENT, WHITE MALE 79 YEARS OLD, DOB 04/04/1936, HEIGHT 6’ 00”, WEIGHT 160 LBS, WHITE HAIR, BLUE EYES, HE IS WEARING A GREEN LONG SLEEVE BUTTON UP SHIRT AND GREEN PANTS
THE SENIOR CITIZEN WAS LAST SEEN AT 4:30 PM 06/17/2015 AT 5761 E. EVANS RD SAN ANTONIO, TEXAS 78266 DRIVING A WHITE 2002 FORD RANGER WITH TX LICENSE PLATE 78YXL8.
LAW ENFORCEMENT OFFICIALS BELIEVE THIS SENIOR CITIZEN’S DISAPPEARANCE POSES A CREDIBLE THREAT TO HIS OWN HEALTH AND SAFETY.
IF YOU HAVE ANY INFORMATION REGARDING THIS MISSING SENIOR CITIZEN, CONTACT THE COMAL COUNTY SHERIFF’S OFFICE AT 830-620-3400.
NEWS MEDIA POINT OF CONTACT IS COMAL COUNTY SHERIFF’S OFFICE AT 830-643-6699
FORT WORTH, Texas – July 29, 2014 – For the second year in a row, First American Payment Systems announces that it has won the Association of TeleServices International’s (ATSI) coveted Call Center Award of Distinction. Following a six month test, an independent panel of judges selected First American Payment Systems after reviewing candidates for response time, courtesy, etiquette, accuracy, proper call techniques, and customer relationship management (CRM).
As the October 2015 EMV liability shift deadline gets closer, IBAT has teamed up with our endorsed service providers (ESPs) to develop various resources for members to ensure you’re fully prepared to educate, communicate and comply with this regulatory change.
PULSE has provided a helpful bylined article about how to effectively communicate to customers to support chip card issuance. The article also discusses best practices and other strategies to make the EMV shift a smooth transition for all.
First American Payment Systems has provided several resources that look at the EMV shift from the merchant perspective, including:
- EMV Key Dates Chart;
- Protect Your Business with EMV Technology;
- Making a Purchase With a Chip Card; and
- EMV FAQs (From a Merchant's Perspective).
Be sure to check out IBAT’s EMV toolkit throughout the coming weeks for additional resources, such as videos, articles and infographics from our ESPs.
The Center for Generational Kinetics, led by Jason Dorsey and Paul Blanco, released the report Unlocking Millennial Talent 2015, which shares the newest insights and strategies about how to make the most of millennial employees in the workforce. For example, this special report asks the question, “What attracts millennials to a job?” It also explores trends such as the importance of your company’s mission and purpose to millennials. More than any other generation, millennials want to believe in what they do, feel valued as an employee and have a clear growth path.
Other topics explored in this report include:
- What are the top five drivers of millennial employee engagement?
- What separates the best millennial employers from everyone else?
- How long do millennials plan to stay at a job?
- What motivates millennials at work?
Download the free report Unlocking Millennial Talent 2015 today.
Thank you to everyone who attended IBAT's 30th Annual Leadership Conference last week in San Antonio. This year’s Conference included more than 235 attendees (71 first-timers), who connected with one another through focused leadership training, established networking designed to enhance relationships and learned from hot topic breakouts geared towards operations, lending, sales and marketing.
Resources shared during Beth Ziesenis’ attendee-favorite breakout and general sessions - Five Things All Banking Professionals Should be Able to Do From a Mobile Device and A Day in the Life of a Nerdy Banking Professional - can be found here.
Congratulations to Angie Brown, Senior Vice President with First National Bank of Giddings, on her selection to receive the 2015 Excellence in Leadership Award. Angie is a proven leader within her bank and her community, as well as within IBAT and the Leadership Division. She served on the Leadership Division Board of Directors from 2004-2013, including holding the office of President in 2011-2012. Additionally, she has been a tireless supporter of IBAT, traveling with the association to Washington, D.C. to advocate for the industry and coordinating efforts to raise money for the IBAT PACs.
IBAT was also pleased to honor Five*Star Award winners: Bank Compensation Consulting, CalTech and First American Payment Systems during the Conference.
Photos from this year’s event will be linked in next week’s Bottom Line. Save the date for the 31st Annual Leadership Conference, June 23-25, 2016 at Moody Gardens Resort and Spa on Galveston Island!
Federal Emergency Management Agency (FEMA) and Federal Flood Assistance Programs have very specific rules. However, some things may be misunderstood. Please take a look at the FEMA bulletin regarding rumors vs. facts for assistance during this highly sensitive time for many Central Texas residents following the recent floods. Specific information addressed in the bulletin includes the following topics:
- FEMA Registration;
- FEMA Disaster Assistance;
- U.S. Small Business Administration; and
- Debris Removal.
Congratulations to Mark Few, Executive Vice President and Chief Operating Officer of Centennial Bank (Lubbock), for his recent appointment to the SWACHA Board of Directors. SWACHA’s 17-member Board is made up of representatives from its membership, which includes financial institutions in Texas, New Mexico and Louisiana.
Past IBAT Leadership Division President and IBAT Leadership Excellence Award winner, Few has more than 30 years of experience in the banking industry. His new board position is effective August 2015.
Perhaps we can credit the imminence of the summer solstice for the return of the consumer. More daylight equals more consumption. As economic axioms go, that might make a good one. What hasn’t been axiomatic this year is that people with money in their pockets will spend that money until their pockets are empty. The consumptive expectation that money not being spent on half-price gasoline will be spent on something else has not really played out that way. After being negative or flat for four of the last five months, we learned on Thursday that Retail Sales grew by 1.2% in May. Without autos and gas, that measure still grew by a relatively robust .7% and that’s made a lot of people feel better.
Dell is continuing its discounts for IBAT member banks, bank employees and customers. For the second quarter of 2015, IBAT members are offered 40% off the list price of select Latitude and OptiPlex, priced $999 or more. Please be sure to use the current coupon code:
On average, IBAT members enjoy savings of approximately 30% on each order. If you'd like to take advantage of this deal, visit Dell's website. For even greater savings, be sure to include the unique Dell/IBAT link numberGS126658178 when placing your order.
Additional offers include:
- Save an additional 2% on Inspiron Computers;
- Save an additional 5% on XPS Computers;
- Save up to an additional 10% on PowerEdge servers $1299 and above;
- Save an additional 10% on Dell Precision Workstations; and
- Save up to an additional 5% on select electronics and accessories.