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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.
June 17, 2025
Washington, D.C. (June 17, 2025) — Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Senate’s passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act (S. 1582).
“On behalf of the nation’s community bankers, ICBA appreciates the work by the Senate to address concerns raised by ICBA with the GENIUS Act throughout the legislative process in order to provide regulatory clarity while protecting against the negative economic consequences that would result from community bank disintermediation. ICBA understands the importance of having a clear regulatory framework for stablecoins and has worked closely with the Senate to incorporate critical guardrails to protect consumers and our payments system. As the House determines how it will consider stablecoin legislation, ICBA looks forward to continuing to work with the House to ensure it is further strengthened to address community banker concerns so that the measure fully protects the role community banks serve in local communities across America. With community banks using deposits to make 60% of the nation’s small-business loans and 80% of banking industry agricultural lending, preserving the role of community banks — which have proven commitments to their communities and local credit creation — is critical as Congress deliberates substantial changes to our payments ecosystem.”
About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation’s community banks through effective advocacy, education, and innovation.
As local and trusted sources of credit, America’s community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers’ financial goals and dreams. For more information, visit ICBA’s website at icba.org.