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| ON THE HILL |
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HUD Extends RESPA Comment Period
We are pleased to report that HUD has extended the comment period on the very troublesome RESPA reform proposals until June 12. We believe this to be a well-intended initiative to address some of the problems recognized in the meltdown of the subprime mortgage market, but one with some serious unintended consequences that will lead to additional confusion for consumers, more cost for lenders and more "hoops" for all involved.
Karen Neeley is in process of putting the final touches on IBAT's comment letter, which will be distributed to the membership upon completion. We encourage you to review this letter, and seriously consider submitting one of your own.
Special and very sincere thanks to Congressman Ruben Hinojosa for leading an effort in which 147 members of Congress signed on to a letter requesting an extension of this comment period. |
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| TRAILBLAZER AWARD |
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Attention Waco Area Bankers!
Please join us for a luncheon on Thursday, May 29 at the Ridgewood Country Club in Waco as we present Congressman Chet Edwards with the IBAT Leadership Division Trailblazer Award in recognition of his outstanding legislative efforts in the US House of Representatives. Cong. Edwards is a co-sponsor of the Communities First Act, which provides regulatory burden and tax relief for community banks, and has been a longtime supporter of community banking.
Let's honor Cong. Edwards with a great turnout of community bankers! |
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| TEACHING EXCELLENCE IN FINANCIAL LITERACY AWARD |
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Are You a Hero to a Local Teacher?
You are if you’ve nominated them for the 2008 Teaching Excellence in Financial Literacy Award! This award, sponsored by the IBAT Education Foundation, recognizes outstanding teachers who have tackled the subject of financial literacy in the classroom. The honored teacher will receive a $1,000 cash award, which will be presented by the nominating banker in a ceremony at their school. Deadline for nominations is June 1. For more information, click here. |
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| FIVE STAR AWARD |
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Calling All Associate Members
Have you returned your Interest Form for the 2008 Five-Star Award? The Five«Star Award is presented annually to three Associate Members who provide superior service to the community banking industry. Nominees will be placed in three tiers, based on company size and IBAT members will vote on a nominee from each tier.
The Five«Star Award recipients will be recognized during the IBAT Education Foundation Gala, September 23, 2008 at the Hyatt Lost Pines Resort in Bastrop, TX.
Friday, May 16 is the deadline to turn in your Interest Form, so don’t delay…get it in today! Click here for more information. |
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| 2008 LEADERSHIP CONFERENCE |
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Catch the Wave to Leadership Excellence
June 19-21, 2008
Early bird registration extended to 5/16...be sure to register online this week!
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: I have a customer who has done a couple of different home improvement loans on their homestead with us over the last year. They would like to combine them into one note and put them on a payout. Can I just do a refinance combining them all into one note? This would ultimately be a second lien.
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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| BAKER WEEKLY |
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Crude oil set new highs – last week alone, the price of crude oil was up over 8%...The American Automobile Association indicates the average price of gasoline in the U.S. hit $3.671/gln Thursday (new high) and is expected to push higher...Consumer credit has surged as well, as consumers preferred credit cards to cash for their purchases…Initial jobless claims fell last week, but continuing claims remain high and the trend shows a labor market that is becoming more distressed.
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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| SOLUTIONS FROM SERVICES |
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Making the Most of Your Security Budget
With IT spending growth projected to drop substantially this year, organizations will be faced with the challenge of meeting increasing security and compliance requirements without increasing their IT security spending. IBAT Endorsed Provider, SecureWorks, invites you to a complimentary webcast as they discuss various ways businesses can protect their IT assets and comply with regulations while making the most of their security dollars.
Topics of Discussion
· Tips for managing IT security costs
· Best practices to maximize efficiency
· In-house vs. outsourcing?
Webcast Information
· Date: May 20, 2008
· Time: 3:00 pm est
· Duration: 30 Min. + Q&A
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| ON THE EDUCATION FRONT |
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Because you are a member of IBAT you have access to register for these upcoming webcasts:
IBAT and Professional Bank Services Co-Sponsor Compliance Seminars. Here is the current schedule:
The FACT ACT & Privacy Compliance
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5/13 |
Lubbock, TX |
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5/14 |
Houston, TX |
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5/14 |
San Antonio, TX |
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5/15 |
Dallas, TX | |
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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 upcoming events.
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June 19-21, 2008 - Moody Gardens, Galveston |
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Advanced Bonds Summit
August 7 - Irving |
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Lending Compliance Summit
August 21 - San Antonio |
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Liquidity Management Summit
September 4-5, San Antonio |
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September 21-23, 2008 - Hyatt Lost Pines Resort, Austin/Bastrop |
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October 5-10, 2008 - Dallas |
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Sales Culture 201 Summit
November - Dallas |
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TechMecca 2008
November 3-4 - Dallas |
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Financial Literacy Summit
December 3-4 - Location TBD | | |
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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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