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

IRS reports problems with crypto tax enforcement

Jul 17, 2024 | NewsWatch Today
Digital asset seizure values have grown exponentially, topping $7 billion in 2022, but compliance enforcement with virtual currency is difficult, according to a new Treasury Department report.
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Comptroller lauds ICBA’s check fraud efforts

Jul 11, 2024 | NewsWatch Today
Acting Comptroller of the Currency Michael Hsu highlighted the formation of ICBA’s Check Fraud Task Force as an important step in addressing financial fraud.
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Treasury proposes expanded jurisdiction over transactions near military installations

Jul 9, 2024 | NewsWatch Today
The Treasury Department proposed a rule to add military installations across 30 states to its jurisdiction over transactions by foreign persons in the U.S., following President Joe Biden’s ban of a Chinese cryptocurrency mining facility within a mile of Francis E. Warren Air Force Base.
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