Payments

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 Access, Choice, and Governance

Apr 14, 2021, 10:22 AM
Title : Payments Access, Choice, and Governance
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Categories : Payments
Payments Access

Letters and Testimonies

Apr 9, 2021, 14:13 PM
Title : Letters and Testimonies
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Categories : ICBA Education
Letters and Testimony

Payments Strategy Guide

Apr 7, 2021, 11:55 AM
Title : Payments Strategy Guide
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Categories : Payments
Payments
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Credit Card and Debit Cards, Card Regulation, and Other Related Topics

Mar 31, 2021, 15:44 PM
Title : Credit Card and Debit Cards, Card Regulation, and Other Related Topics
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Categories : ICBA Education
Online Training
Related pages : Online Training

Payments News

FDIC issues fact sheet, advisory on crypto deposit insurance claims

Aug. 01, 2022

The FDIC published a fact sheet to consumers and an advisory to financial institutions on FDIC deposit insurance and crypto companies.

Fact Sheet: The fact sheet says some crypto companies have misrepresented FDIC deposit insurance for crypto products and addresses common and emerging misconceptions. It notes that deposit insurance does not apply upon the failure of a nonbank and does not protect consumers with nondeposit products.

Advisory: The advisory reminds FDIC-insured banks dealing with crypto companies to confirm and monitor that these companies do not misrepresent the availability of deposit insurance.

Voyager Letter: The release follows a joint letter from the FDIC and Federal Reserve Board demanding that crypto brokerage firm Voyager Digital cease and desist from making false and misleading statements regarding its FDIC deposit insurance status.

Congressional Debate: With the crypto debate continuing in Congress, ICBA last week called on the Senate Banking Committee to ensure crypto regulations are comprehensive and effective. After ICBA previously expressed concerns that the House Financial Services Committee planned to take up last-minute crypto legislation that hasn’t been publicly vetted, the committee delayed the measure, as reported by The Wall Street Journal, Politico, and Reuters.