The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.

Payments News

ICBA seeks more gradual increase of same-day ACH limits

Jan 25, 2021 | NewsWatch Today
ICBA said it supports Nacha's plan to raise the individual same-day ACH transaction limit from $100,000 to $1 million in 2022. However, ICBA urged Nacha to assess the impact of such an increase before proceeding with its plan to remove dollar limits altogether in 2024.

FinCEN proposes virtual currency recordkeeping rules

Dec 21, 2020 | NewsWatch Today
The Financial Crimes Enforcement Network issued a proposed rule to increase transparency of certain transactions involving convertible virtual currency or digital assets with legal tender status.

Payments continue going digital: BIS

Nov 5, 2020 | NewsWatch Today
The Bank for International Settlements reported sizable growth in digital payments across many leading economies prior to the coronavirus pandemic.