|Letter on Revised Stablecoin Draft Legislation||House Financial Services Committee||05/05/23|
|Letter Offering Community Bank Perspective on Stablecoin Legislation||House Financial Services Committee||04/19/23|
|Support for House Central Bank Digital Currency Anti-Surveillance State Act||Rep. Tom Emmer||03/08/23|
|Letter on ICBA Lame Duck Agenda||Senate, House||11/17/22|
|State Letter Opposing Credit Card Competition Act||House, Senate||10/11/22|
|Joint Letter Opposing Marshall-Durbin NDAA Amendments||Senate||10/04/22|
|Joint Letter on Credit Card Competition Act||House||09/27/22|
|Letter Opposing House Interchange Bill||House||09/21/22|
|ICBA Letter Opposing Credit Card Competition Act||Senate||08/31/22|
|Letter on Stablecoin Legislation||House Financial Services Committee||07/22/22|
|Joint State Trades Letter to the Senate Judiciary Committe Interchange Hearing||Senate Judiciary Committee||05/04/22|
|Joint Letter for Senate Interchange Hearing||Senate Judiciary Committee||05/02/22|
|Support for Senate CBDC, FedAccount Bill||Sens. Cruz, Braun, Grassley||04/04/22|
|Support for House CBDC, FedAccount Bill||Rep. Tom Emmer||04/04/22|
|Joint Trades Credit Interchange Cap Letter||Congress||07/27/21|
|Hill Payments Charter Letter||116th Congress||10/15/20|
|Hill Payments Charter Letter 9.29||U.S. House Task Force on Financial Technology||09/29/20|
|Comments on SEC Safeguarding Rule||Securities and Exchange Commission||05/08/23|
|Joint Extension Request on CFPB Credit Card Late Fee Proposal||CFPB||05/02/23|
|Comments on Treasury Check Verification System||Bureau of the Fiscal Service||04/03/23|
|Comments on Digital Assets Research and Development||Office of Science and Technology Policy||03/03/23|
|Request for Extension of Reg II Effective Date||Federal Reserve||02/13/23|
|Comments on Crypto-Asset Principles||Financial Stability Board||12/15/22|
|Comments on Digital Assets and Illicit Finance||Treasury Department||11/04/22|
|Comments on Treasury Digital Assets Request||Treasury Department||08/08/22|
|Comments on Credit Card Late Fees||CFPB||08/01/22|
|Comments on Digital Assets Oversight||Commerce Department||06/29/22|
|Effective Regulation of Crypto Assets||Senate Banking Committee||Written Statement||02/13/23|
|Statement for Senate Crypto Hearing||Senate Banking Committee||Written Statement||07/28/22|
|Hearing Statement on Central Bank Digital Currency||House Financial Services Committee||Written statement||05/25/22|
|Enhanced Regulation of Digital Assets Will Promote Responsible Innovation||Senate Banking Hearing||02/15/22|
|Statement for House Hearing on Stablecoins||House Financial Services Committee||Written statement||02/08/22|
|Statement for Senate Stablecoin Hearing||Senate Banking Committee||Written Statement||12/14/21|
|Statement for House Hearing on Digital Assets||House Financial Services Committee||Written statement||12/07/21|
|ICBA Statement for HFSC Fintech Hearing 9-29-2020||HSFC||09/29/20|
Feb. 21, 2023
The Bank for International Settlements issued a report to help central banks extend operating hours for real-time gross settlement systems to reduce delays in cross-border payments settlement.
Report Details: The report from BIS’s Committee on Payments and Market Infrastructures says extending and aligning RTGS operating hours could speed up cross-border payments, especially between jurisdictions with significant time zone differences. It could also improve liquidity management, reduce settlement risk, enhance performance, and facilitate cheaper and more transparent cross-border payments in line with G20 targets, the report says.
Background: Slow and inefficient cross-border payments are frequently cited as a justification for a U.S. central bank digital currency and stablecoins. So the evolution of traditional RTGS systems could play a role in the potential development of CBDCs and other digital assets.
ICBA Position: ICBA opposes the creation of a U.S. CBDC, arguing that it would disintermediate community banks and pose privacy risks without improving on superior payment alternatives, such as FedNow. ICBA in September released polling conducted by Morning Consult indicating consumers support a regulatory framework for digital assets and are skeptical of the creation of a U.S. CBDC.
Recent Congressional Statement: In a written statement for a Senate Banking Committee hearing last week on crypto oversight, ICBA laid out the risks posed by stablecoins and decentralized finance while reiterating its push for comprehensive and coordinated crypto regulations that avoid dangerous loopholes.