The Paycheck Protection Program offered millions of small businesses a critical financial lifeline to weather an extraordinary economic downturn engendered by the coronavirus pandemic.
Smart contracts — computer programs that automatically execute specific actions — are becoming increasingly relevant to community banks. Here’s a breakdown of smart contracts and how they could ultimately serve community banks.
The Paycheck Protection Program originated its final loans nearly three months ago. Over the preceding year, this Marshall Plan for small businesses provided critical financial assistance to nearly 5 million individual borrowers.
Between March and June of last year banks experienced a 520% increase in phishing and ransomware attempts. Though these trends were exacerbated by COVID, cybersecurity has been a top concern for the financial services industry for years.
A recent 21st Century from the Conference of State Bank Supervisors report indicates that more than 80% of bankers ranked cybersecurity risk as “very important,” which was more than twice the rate for any other type of operational risk.
Have you ever been ready to jump into your next meeting only to notice you didn’t have your mobile phone? If so, I’m betting you felt a sense of panic that only subsided once your phone was back in hand.Because without it, you’d lost your lifeline.
ICBA’s campaign against Washington’s IRS reporting proposal has helped consumers speak out against the plan. But as the debate evolves, the campaign now demands that community bankers increase their grassroots outreach through calls and messages to Capitol Hill.
A new educational webinar series hosted by ICBA and Jackson Lewis starts tomorrow. This series will speak to community bank considerations around diversity and provide greater insights into both the why and how behind diversity, equity and inclusion efforts.
High-tech, high touch. That phrase has been a rallying cry for community banks for years, emphasizing the blending of the relationship banking model with the technology fueling today’s digital era. And now the expression has bubbled up in a new source.
In this latest blog, ICBA senior vice president and chief innovation officer Charles Potts, writes about the key factors that lead fintechs to success in the community banking space.
Today’s COVID-influenced environment has shifted customer tendencies and behaviors unlike anything we’ve witnessed before. The actions and activities of customers you have known have evolved, and potential new customers are now seeking different products and services than they would have just two years ago.
As we celebrate Hispanic Heritage Month, community bankers continue to discuss new ways of reaching out to the Hispanic community in their local areas and offer tips to connect with this diverse and burgeoning community.
As we celebrate Hispanic Heritage Month, community bankers continue to discuss new ways of reaching out to the Hispanic community in their local areas. Miguel Lopez, senior vice president and chief community outreach officer at the Little Rock, Ark.-based Encore Bank, shares some tips to do just that.
While policy and technology questions continue to be debated around the digital dollar, the vital role that community banks need to play in this next evolution of money is indisputable.
As National Crisis Preparedness Month draws to a close, ICBA continues to reinforce the importance of proper preparedness to combat unforeseen natural disasters and keep local banks and communities operational.
A semiconductor chip shortage has emerged as a real challenge for banks. Industries from automobile manufacturing to consumer electronics have been reporting issues for months, and now the effects have spread to the payments industry.
ICBA has for months strongly objected to a Washington proposal that would require financial institutions to report information on customer bank accounts to the IRS, which Congress could soon pass with a simple majority vote.
With the recent stablecoin surge raising risks for consumers and the financial system, regulators and Congress are increasingly concerned about the risks these digital currencies pose to consumers and the overall stability of financial markets.
The Crypto Chronicles series began with a primer on stablecoins, a type of digital currency designed to maintain a relatively stable value by being backed by fiat currencies, commodities, or other assets. In the months since that article was published, stablecoins have become a hot topic due to an incredible surge in activity—and affiliated risk.
If community bankers weren’t busy enough continuing their heroic economic response to the pandemic, a recent proposal to impose new IRS reporting mandates on customer bank accounts has become a major advocacy priority.
