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 Access, Choice, and Governance

Apr 14, 2021, 10:22 AM
Title : Payments Access, Choice, and Governance
mainURLExternal :
Categories : Payments
Payments Access

Letters and Testimonies

Apr 9, 2021, 14:13 PM
Title : Letters and Testimonies
mainURLExternal :
Categories : ICBA Education
Letters and Testimony

Payments Strategy Guide

Apr 7, 2021, 11:55 AM
Title : Payments Strategy Guide
mainURLExternal :
Categories : Payments
Related pages :

Credit Card and Debit Cards, Card Regulation, and Other Related Topics

Mar 31, 2021, 15:44 PM
Title : Credit Card and Debit Cards, Card Regulation, and Other Related Topics
mainURLExternal :
Categories : ICBA Education
Online Training
Related pages : Online Training

Payments News

Global AML watchdog warns of lagging crypto standards

Feb. 26, 2024

The Financial Action Task Force—a global anti-money-laundering watchdog—said many countries have not implemented its recommended standards on virtual assets, allowing criminals to exploit gaps in crypto regulation.

Crypto Assessment: The FATF last year released a roadmap to strengthen implementation of its standards on virtual assets. Following its latest Plenary session in Paris last week, the FATF said it will publish an assessment of countries with the highest crypto activity and use the report to support efforts to regulate and supervise crypto service providers.

Hsu Remarks: The statement came a day after Acting Comptroller of the Currency Michael Hsu said crypto industry resistance and jurisdictions competing for crypto business have held up progress on consolidated supervision of virtual assets. Hsu was addressing the Financial Stability Board, which has issued ICBA-supported recommendations for crypto oversight based on the principle of “same activity, same risk, same regulation.”

ICBA View: ICBA supports global efforts to advance international cryptoasset regulation, including the FSB’s framework to support consistent regulatory and supervisory standards and baseline policy recommendations from the International Organization of Securities Commissions.

More: In its statement following the Plenary, the FATF also:

  • Issued new risk-based guidance on beneficial ownership targeting stakeholders involved in trusts or similar legal arrangements, concluding the FATF’s work on beneficial ownership transparency.

  • Said it will propose revisions for its policy recommendations on wire transfers to reflect wider adoption of the ISO 20022 messaging standard promoting cross-border payments.