ICBA

Community banks and tech companies that are happy the central bank is building a next-generation system are not as pleased with its four- to five-year timeline. But big banks see the slow rollout as an opportunity to expand their own instant payment network.

The Independent Community Bankers of America provided seed funding for Teslar Software, which supplies community banks with a platform to manage data from different internal systems.

The agency is trying to update its rate-cap policy for institutions that fall below "well-capitalized." But it remains to be seen if the proposed changes fully address community bankers' concerns.

Addressing payment security and achieving interoperability with a rival, private-sector network are just some of the challenges the central bank faces in building a government-backed real-time payment system.

Financial institutions welcome regulatory feedback on their fintech offerings, but the industry wants the agency to waive enforcement for approved products.

The National Credit Union Administration is considering increasing the threshold for nonmember deposits but bankers have vowed to fight back, including possibly suing the regulator.

The NCUA proposed Thursday to put off until 2022 implementation of a rule that would require larger credit unions to hold more risk-based capital.

The small-bank trade group wants Congress to investigate whether the agency did enough to respond to warning signs and curb abusive practices by credit unions.

The industry continues to push for an overhaul of the bureau’s leadership structure, but both parties seem uninterested.

Chris Lorence, a former marketing official at the Independent Community Bankers of America, is the Credit Union National Association's latest recruit from other financial services trade groups in recent years.

Elder abuse costs banks $1 billion in deposits a year, according to AARP. It has launched a video-game-style online training program that teaches bank employees what to be alert for.

The Credit Union National Association has partnered with the group to help distribute the platform to financial institutions free of charge.

The Clearing House announced moves to attract community banks and credit unions to its real-time payments system. Smaller depositories have generally been reluctant to sign up with what is seen as a large-bank effort.

Trying to keep pace with big banks that digitize as many processes as possible will undercut community banks’ strengths, according to speakers at this year’s ICBA convention.

More than 20 banks have been sold to credit unions. A prominent banking lawyer made the case at this year's ICBA convention that banks can become more aggressive acquirers.

The credit card network has teamed up with an ICBA unit and the fintech Urban FT to offer a payments services program tailored to community banks trying to keep pace with bigger banks.

Congress granted banks significant reg relief last year, but incoming ICBA Chairman Preston Kennedy says a lighter touch is needed with Bank Secrecy Act rules, loan-loss modeling and call reports.

More than three dozen organizations are asking the FDIC to reject Square’s pending application to become an industrial loan company, according to a letter filed Tuesday.

They all agree that legislation is needed, but the two approaches being offered are exposing tensions.

The vast majority of comment letters to the FDIC support the fintech’s banking venture, in stark contrast to the public outcry over the pre-crisis ILC bids by large retailers.