- ICBA supports a legal and regulatory framework, coupled with a supervisory process and operational environment, that allows community banks to deploy technologies without impeding innovation and that permits community banks to fairly compete against other bank and non-bank financial services entities.
Community banks depend on information technology to stay competitive, efficient, and profitable. Deployment of technology continues to alter the way that consumers and businesses conduct banking and commerce and influences the products that community banks offer. Additionally, technology deployment is altering the risk profile of community banks and subjecting them to a myriad of regulatory requirements and expanded oversight. The regulatory agencies play a valuable role in defining and identifying the risks of existing and emerging technologies for both community banks and their service providers. Any guidance should be crafted in a manner that does not hamper innovation or impose undue burden.
Staff Contact: Cary Whaley