ICBA

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.

Banks that gather deposits through branches generally pay lower deposit premiums than those that solicit deposits online. So what happens if long-standing restrictions on brokered deposits are relaxed?