Main Street Matters Blog

While the collapse of the TerraUSD stablecoin has captured the most attention and headlines, it was not the only stablecoin to fail during the market downturn. Here’s a look at the impact of the Terra decline on the stablecoin sector and what’s next for the crypto markets.

ICBA has closely watched the growth of stablecoins over the past year and repeatedly raised concerns about the risks these systems may pose to consumers and the wider financial system. Earlier this month, those concerns manifested with the collapse of TerraUSD, once the third-largest stablecoin.

Maintaining strong risk-mitigation technologies has never been more important for the banking industry, but “big box” merchant lobbyists are attempting to disrupt advances in card fraud mitigation efforts.

When it comes to community bankers’ technology to-do lists, 35% view investing in digitalization as their top business opportunity. We’ve clearly arrived at a tipping point where community bankers are not just talking about the digital experience, they are incorporating it into actionable plans.

To support community banker meetings with policymakers on top industry issues, ICBA released new polling data affirming the industry’s strong public favorability at the state and national levels.

Community Bankers Association of Illinois (CBAI) is no stranger to fintech collaborations, but the idea of helping shape fintech offerings tailored to community banks was too intriguing an idea to pass up.

According to the Federal Reserve, nine in 10 businesses (or 29.25 million) expect to be able to send and receive instant payments by 2023. Fortunately, in many cases, community-based financial institutions have begun the process to meet these needs.

The first rewards credit card was introduced by American Airlines in 1934 to help it sell tickets. Ninety years later, merchants accepting credit cards and issuing co-branded rewards cards continue to create value for consumers and businesses.

Consumers and businesses are increasingly using payment platforms that allow them to pay or transfer money faster than ever before, with U.S. faster payments transactions topping $900 billion in 2020.

The importance of experienced advocacy representation of community banks’ payments needs has never been greater, which is why the ICBA Payments and Technology Policy team has imbedded resources into myriad decision-making boards, committees, and standards-setting bodies.