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 : Payments
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 : Community Banker University
Online Training
Related pages : Online Training

Payments News

DOJ announces arrests in $575M crypto fraud

Nov. 22, 2022

The Justice Department announced the arrest of two Estonian citizens for their alleged involvement in a $575 million cryptocurrency fraud and money-laundering conspiracy.

Indictment: According to court documents, Sergei Potapenko and Ivan Turõgin allegedly induced victims to enter into fraudulent equipment rental contracts and caused victims to invest in a virtual currency bank called Polybius Bank. They then used shell companies to launder the fraud proceeds and to purchase real estate and luxury cars.

ICBA Position: ICBA recently told the Treasury Department that protecting national security and implementing anti-crime measures should be primary drivers of cryptocurrency policymaking and regulation. Reflecting previous ICBA calls for regulators to prioritize national security in new crypto rules, ICBA noted that bad actors still use Tornado Cash despite it being federally sanctioned.

More Resources: Earlier this year, ICBA published a series of blog posts on volatility in the stablecoin market, including the collapse of the TerraUSD stablecoin, its impact on financial markets, and how it affects community banks and the regulatory debate.