ON THE HILL
		Farm Bill Victory...Sort of... Victory, but don't pop the champagne corks just yet.  The Farm Bill is now in the books for the next ten years and thanks to the good work done by ICBA and all its affiliated state partners, the Farm Credit System did not obtain their broad powers and lending authority authorization, a.k.a., The Horizons Project.      But wait, no sooner has the bill been engrossed than in steps the Farm Credit Administration.  FCA has proposed broad new lending rules to allow the Farm Credit banks to thumb their noses at Congress and expand their geographic reach far beyond their original purpose.  We are trying to make sense out of the proposed rules issued for comment until July 5, 2008 so that we can respond accordingly.  You may wish to do the same, or watch for IBAT's letter in a future e-newslettter and fire off your own.    IBAT RESPA Comment Letter As mentioned in a previous edition of this newsletter, HUD has extended the comment period for the ill-advised RESPA reform proposal until June 12.  Karen Neeley has completed the comment letter from IBAT, and it can be found HERE.      We strongly urge you to consider submitting your own comment letters on this issue, which we believe will create additional expense and confusion for both lenders and borrowers.  Instructions for filing (we recommend "e-filing") can be found HERE.       You are welcome to use Karen's letter as a guide, as well as submissions by other interested parties which can be accessed on the prior mentioned website.  We do, however, encourage you to put your concerns in your own words, as such comment letters appear to carry significantly more weight.   Legislative Fund Reminder Thanks to the many banks who have contributed to the IBAT Legislative Fund!  We will recognize you in an upcoming edition of our magazine, and very much appreciate your willingness to "step up to the plate".  If you have not yet contributed, there is still time.  The suggested contribution is $3 per million in assets . . . but we will gladly accept contributions in any amount.  Unlike PAC contributions, an administrative fund can accept corporate contributions, although by law, these gifts are not tax deductable.      The dollars collected are utilized to defray allowable expenses (the recent Washington trip is a prime example), but are not eligible for direct contributions to candidates.      For questions or additional information, please contact Mae Beth at 800/749-4228.  Thanks for your support of our efforts on your behalf!
NEWS
		William F. Aldridge We notified you earlier of the tragic death of our friend and longtime Texas Banking Department icon Bill Aldridge.  A number of you have asked about memorial contributions to honor Bill.  After checking with the family, they have encouraged those who wish to do so to contribute to a charity of their choice for this purpose.      While not intending to steer donations to a particular entity, the Aldridges are members of Westlake Bible Church in Austin.  Additionally, the IBAT Education Foundation has worked closely with the Banking Department on financial literacy initiatives, and would be an appropriate recipient of memorial contributions if you are so inclined.      Sympathy cards and notes can be sent to Rosella Aldridge and family in care of The Texas Banking Department, 2601 North Lamar Blvd., Austin, TX  78705.
2008 LEADERSHIP CONFERENCE
		Catch the Wave to Leadership Excellence June 19-21, 2008      More information...
LEGAL EASE QUESTION OF THE WEEK
		Question:   Is it permissible for a minor to open an UTMA account for his/her child?      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.
BAKER WEEKLY
		The financial markets last week experienced anxiety regarding inflation and soaring oil prices, leading to a decline in the Dow Jones Industrial Average of well over 400 points.  Stock prices now sit at the lowest levels in more than a month.  Crude oil futures which opened the week trading below $127/bbl eventually traded above $135/bbl before settling around $132/bbl at week’s end.  In the midst of bad headlines on prices, Fed vice-chairman Kohn suggested that economic conditions remain “quite difficult” and he would expect core inflation to “ease off slowly as commodity prices level out and as economic slack creates competitive conditions that inhibit increases in labor costs and prices”.  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.
SOLUTIONS FROM SERVICES
		With a large number of banks forming or expanding these days, a good architect is an essential part of your team!  As an IBAT Endorsed Service Provider since 1994, McCleary German Architects are known throughout Texas and Central Southwest as the financial institution design specialists.  With their primary clientele of independent banks, MGA has worked closely with and plays a strategic role in growth, brand definition and identity establishment.      MGA takes pride in knowing the ins and outs of bank operation and how good design impacts the productivity of your staff.  The team at MGA will serve you with an elevated level of commitment to listen to your needs, understand those needs and follow through with a design that meets your budget and program.  No design project is too small or too big; no project location is too far!
ON THE EDUCATION FRONT
		As a member of IBAT, you have access to register for the upcoming webcasts:   5/29   Your Bank's Ethics Responsibilities 6/3   Dealing With Regulators in an Uncertain Environment 6/5   Safe Deposit Compliance & Legal Issues Update 2008 6/10   Medallion & Signature Guarantee Rules 6/17   BSA Exam Hotspots 2008: Ten Issues You Must Know 6/19   Top 10 Compliance Violations
COMING SOON
		For a complete listing of upcoming events, CLICK HERE.  Meanwhile, please mark your calendar for some of our key upcoming events.      IBAT Leadership Conference June 19-21, 2008 - Moody Gardens, Galveston   IBAT Associate Member Orientation July 25, 2008 - Austin   Advanced Bonds Summit August 7 - Irving Lending Compliance Summit August 21 - San Antonio   Liquidity Management Summit September 4-5, San Antonio   IBAT 34th Annual Convention September 21-23, 2008 - Hyatt Lost Pines Resort, Austin/Bastrop   Bank Operations Institute October 5-10, 2008 - Dallas   Sales Culture 201 Summit November - Dallas   TechMecca 2008 November 3-4 - Dallas   Financial Literacy Summit December 3-4 - Location TBD