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

Treasury proposes crypto tax reporting requirements

May 21, 2021 | NewsWatch Today
The Treasury Department proposed tax reporting requirements on cryptocurrencies in a new report on the administration’s American Families Plan.

Fed releasing CBDC paper this summer: Powell

May 21, 2021 | NewsWatch Today
Federal Reserve Board Chair Jerome Powell said the Fed is planning a discussion paper for this summer on the possibility of issuing a U.S. central bank digital currency.

FDIC requests comments on digital assets

May 18, 2021 | NewsWatch Today
The FDIC requested comments within 60 days about insured depository institutions’ current and potential digital asset activities.