TEXAS BANKING NEWS, PEOPLE AND IDEAS
TEXAS BANKING NEWS, PEOPLE AND IDEAS
By Mike Rahn, CISP | Ascensus Our organization sends out IRA beneficiary designation reminders every few years. Some IRA owners respond and inform us that they have divorced, which leads us to ask whether divorce itself can impact IRA beneficiary elections? It depends. A number of states—about half—have laws that automatically revoke an existing IRA … Read more
By Tina Zulich | CSI Debit and credit card programs have been around for decades, and many financial institutions are focused on newer priorities: AI, instant payments, embedded finance, open banking and digital experiences. But cards are still central to everyday banking, powering purchases, generating useful data and helping community banks build stronger account holder … Read more
By JAMES WHITE, EngageFI Scan the trade publications and conference agendas, and you’ll find a drumbeat of optimism: AI adoption is surging. Two-thirds of financial institutions are now “implementing AI.” Budgets are climbing. Use cases are multiplying. The future, we’re told, has arrived. But the banking industry is celebrating the wrong number. Here’s the problem. … Read more
By JODIE NORQUIST, CIP, CHSP ASCENSUS For decades, the phrase “as long as it’s postmarked by the deadline” has been a comforting refrain in the retirement and health-savings world. When a prior-year IRA contribution is mailed on April 15, or other time-sensitive tax forms are headed to the IRS, the U.S. Postal Service postmark has … Read more
By Kristiana Rodriguez, CIP Ascensus When an IRA owner dies, the assets are distributed to beneficiaries, whether named by the IRA owner or determined by IRA document defaults. This can sometimes be a complicated process for financial organizations. And further complications may arise when the original beneficiary dies, leaving the inherited IRA to a successor … Read more
In early July, catastrophic flash flooding swept through Central Texas, especially in the Hill Country, overwhelming rivers like the Guadalupe and devastating communities across Kerr, Comfort and Midland counties. Amid widespread destruction and an urgent need for relief, Texas’s community banks stepped up, demonstrating their longtime role as both local economic stewards and frontline responders … Read more
By ASCENSUS The SECURE Act—officially known as the Setting Every Community Up for Retirement Enhancement Act of 2019—made significant changes to IRA and retirement plan rules, including to the beneficiary payout options. One of the most noteworthy changes involves the 10-year rule, which requires a total distribution of inherited assets by December 31 of the … Read more
On January 3, the Texas Bankers Hall of Fame announced its 2025 inductees who will be honored at the 12th Annual Texas Bankers Hall of Fame Gala, May 1 on the campus of Sam Houston State University in Huntsville. Five iconic bankers—Sam H. Burris Jr., Charles G. Cooper, Harvey P. Hartenstine, Robert W. “Bobby” Hoxworth … Read more
By DR. SEAN PAYANT, CHIEF STRATEGY OFFICER, HABERFELD In our ever-changing industry, many community bankers fall into the trap of trying to grow market share by following the lead of the “big banks.” Many of them are finding it just doesn’t work. Customers continue to flee from banks that focus on regular service charges and … Read more
By Craig Brown, Clint Irvin, Jeff Ulmer and Adam Wells Huron The breadth and depth of risks in the finance sector extend far beyond the realms of capital and liquidity. Credit, reputational, strategic, operational, compliance, information security, cybersecurity, third-party and business-continuity risks all fall under this expansive umbrella. Preemptive management of these risks is not … Read more