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Is your bank contemplating a new project to obtain strategic IT capabilities? Don’t know where to start? Weighing the pros and cons of IT outsourcing can be stressful.
Use this interactive quiz to evaluate your bank’s unique circumstances, the risks and regulatory requirements, and balance these considerations against the advantages of outsourcing your key IT capabilities.
Additional information is available in the IT Outsourcing white paper.
A community bank’s core processor should be a strategic partner that supports the bank’s long-term business objectives.
The ICBA Core Processor Resource Guide will help community banks with some of the more important aspects of managing this relationship to maximize the return on their technology investments.
Is your bank contemplating a new project to obtain strategic IT capabilities? Don’t know where to start? Visit our technology advocacy page for useful resources and documents.
|Joint Letter on Aggregation Services Market||CFPB||08/02/22|
|Comments on Fed Accounts Supplemental Proposal||Federal Reserve Board||04/22/22|
|Joint Letter Supporting the Close the ILC Loophole Act||House Financial Services Committee||04/05/22|
|Support for Senate CBDC, FedAccount Bill||Sens. Cruz, Braun, Grassley||04/04/22|
|Support for House CBDC, FedAccount Bill||Rep. Tom Emmer||04/04/22|
|Comments on DOJ Bank Merger Analysis||DOJ||02/15/22|
|Comments on Beneficial Ownership Rule||FinCEN||02/08/22|
|Comment Letter on Big Tech Platforms||CFPB||12/06/21|
|Basel Cryptoasset Comment Letter||Basel Committee on Banking Supervision||09/10/21|
|Extension Request for Proposed Third-Party Guidance||FDIC, Fed, OCC||07/30/21|
|Comment Letter to FDIC on Digital Assets||FDIC||07/15/21|
|ICBA Interagency Artificial Intelligence-Machine Learning RFI Comment Letter||OCC, Fed, FDIC, CFPB, NCUA||07/14/21|
|Joint Comments on Fed Accounts Proposal||Fed||07/12/21|
|House SECURE Support Letter - Coalition||Reps. Madeleine Dean and Kelly Armstrong||06/11/21|
|Joint Letter to House on True Lender||House of Representatives||05/24/21|
|Joint Trades Letter Opposing SJ Res 15 True Lender||117th Congress||05/06/21|
|Requst to Extend AI Request for Information||FDIC, OCC, Fed, CFPB, NCUA||04/22/21|
|Letter to Agency Innovation Offices||CFPB, FDIC, Fed, OCC||03/08/21|
|Response to First Blockchain Bank & Trust, N.A.'s Application for National Bank Charter||OCC||03/02/21|
|Joint Letter on OCC Interpretative Letter 1176||OCC||02/12/21|
|Joint Letter on OCC Trust Charter Applications||OCC||01/08/21|
|Comments on Convertible Virtual Currency Requirements||FinCEN||01/04/21|
|Comment Letter to the OCC concerning Figure Bank||OCC||12/07/20|
|Joint Request for Charter Comment Period Extensions||OCC||11/20/20|
|Hill Payments Charter Letter||116th Congress||10/15/20|
|Comment Letter Regarding Application of Kraken Financial for Access to Federal Reserve System Services||Fed||10/05/20|
|Hill Payments Charter Letter 9.29||U.S. House Task Force on Financial Technology||09/29/20|
|ICBA Response to FDIC Request for Information||FDIC||09/22/20|
|Advance Notice of Proposed Rulemaking||OCC||08/04/20|
|Joint Industry Letter Regarding COVID Calls||FCC||05/22/20|
|ICBAs Ex Parte Regarding CG Docket No. 02-278||FCC||04/20/20|
|ABA Joint Trades Petition Emergency Purposes Exception||FCC||03/31/20|
Sep. 11, 2023
The Federal Reserve’s new program to supervise novel, technology-driven activities in the banks it oversees will continue to grow as new technologies emerge, Fed Vice Chair for Supervision Michael Barr said.
Barr Remarks: Speaking in Philadelphia, Barr said the program is focused on crypto-assets, distributed ledger technology, and complex technology-driven bank partnerships with nonbank fintechs. Citing concerns with dollar-pegged stablecoins, Barr said the program—which the Fed announced last month—is designed to provide clarity as well as timely and relevant feedback to the institutions it supervises.
Fed Policy Statement: The Fed said in August that its announcements are in line with its January policy statement clarifying that its regulatory limitations apply to both insured and uninsured depository institutions. That policy statement also said crypto activities—such as issuing stablecoins on decentralized networks—are “highly likely to be inconsistent with safe and sound banking practices.”
CBDC Research: Barr also said that while the Fed continues to conduct basic research in emerging technologies that might support a central bank digital currency, it has made no decision on issuing a CBDC. In a new paper from the Fed, researchers said a new settlement asset in the form of central bank money is not essential for a tokenized wholesale payment system.
ICBA View: ICBA has repeatedly called on policymakers to ensure new policies directed at the crypto sector fully reflect its risks, to prioritize research on the specific effects of digital assets on community banks and their customers, and to oppose the formation of a U.S. central bank digital currency.
|ICBA Summary of CFPB Proposals on No-Action Letters and Product Sandboxes||01/15/19|
|ICBA Guidelines for Responding to ADA Demand Letters (Members Only)||11/18/16|
|Enhanced Regulation of Digital Assets Will Promote Responsible Innovation||Senate Banking Hearing||02/15/22|
|Statement for Senate Stablecoin Hearing||Senate Banking Committee||Written Statement||12/14/21|
|Statement for House Hearing on Digital Assets||House Financial Services Committee||Written statement||12/07/21|
|ICBA Statement for True Lender Hearing||Committee on Banking, Housing and Urban Affairs||ICBA||04/28/21|
|ICBA Statement for HFSC Fintech Hearing 9-29-2020||HSFC||09/29/20|
|Hearing: Examining the Fintech Landscape||Senate Banking, Housing, and Urban Affairs Committee||Written Statement||09/12/17|