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 News

SEC files charges against crypto firm

Aug 27, 2024 | NewsWatch Today
The Securities and Exchange Commission announced that it filed charges against a “crypto bank” that claimed depositors could earn returns “auto-magically.”

Fed’s Waller: Non-banks and stablecoins pose risks

Aug 20, 2024 | NewsWatch Today
Federal Reserve Governor Christopher Waller voiced concern about the risks from emerging payment technologies, especially non-banks and stablecoins.

FSB: Stablecoin drawbacks outweigh potential benefits

Jul 24, 2024 | NewsWatch Today
The Financial Stability Board said that even if a stablecoin is properly designed and well-regulated, “it may not necessarily have a positive impact on cross-border payments as the drawbacks could outweigh any potential benefits.”