Our mission is central to everything we do, and the pride that comes from that every day is nothing short of inspiring. Much like the community banks we serve, ICBA is continuously evolving, growing, and building momentum.

What is the true nature of cryptoassets? Are they securities or commodities? This question, perhaps more than any other, has propelled policy debates over the past few years.

Federal banking regulators so far have approached regulating the use of artificial intelligence through the lens of existing regulations, rather than creating a new set of guidelines. But based on various regulatory announcements, there are some salient risks community banks should consider when using the technology.

To help separate fact from fiction, let’s start with a working definition of AI and related terms, before discussing a few notable use cases for community banks.

The significant upheaval in the crypto markets—and its impact on consumers and national security—has accelerated Washington’s attention to digital assets policy. Prudential banking regulators, the White House, and the Treasury Department have pursued a range of intertwining policy initiatives, all with direct consequences for the nation’s community banks.

Remaining aware of developments in the digital assets industry is critical as crypto entities seek greater access to the traditional financial system and policymakers in Congress deliberate paths forward.

With traditional backup and recovery systems at risk of compromise in the event of a malware attack on IT systems, ICBA helped found the Sheltered Harbor initiative to protect against cybercrime.

Sixty percent of all fintech startups are intersecting with the payments space in some manner. Increasingly, they’re partnering with banks or targeting their offerings directly to support community bank operations. Cue the rise of the banking- and payments-as-a-service relationship as exhibit A.

Innovation, like time, is constantly moving forward, which is why even before we wrapped up our 2023 ICBA ThinkTECH Accelerator program, plans were well underway for the first of three ICBA ThinkTECH Solutions Forums this year.

A lot has changed in the 15 years that Fannie Mae and Freddie Mac have been in federal conservatorship, including a restoration of the health of the mortgage market and the financial strength of these housing-focused enterprises. What hasn’t changed is the need for the federal government to follow established law and ensure its conservatorship of Fannie and Freddie is temporary.