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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.
Feb. 11, 2022
The Senate Banking Committee scheduled a hearing for next week on the President’s Working Group on Financial Markets report on stablecoins.
Testimony: Treasury Under Secretary for Domestic Finance Nellie Liang is scheduled to testify following her appearance this week before the House Financial Services Committee.
ICBA Statement: ICBA submitted a written statement for the House hearing calling on Congress to ensure stablecoins are subject to regulatory oversight comparable to that which applies to the banking system.