Wall Street’s Cohn is wrong about community banks


The assertion by former Goldman Sachs executive Gary Cohn that smaller banks won't be viable in a high-tech world overlooks their success in partnering with fintechs, according to the Independent Community Bankers of America.


The partners that can help Fed speed launch of real-time payments


The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.


FDIC's brokered deposit proposal has a glaring problem


The plan would encourage more risk-taking by big banks, which would put the industry and taxpayers in harm’s way, write former CFPB Director Richard Cordray and Camden Fine, onetime head of the Independent Community Bankers of America.


Are public-private partnerships the future of postal banking?


Bankers have long opposed the idea of the U.S. Postal Service taking deposits and making loans directly, but some in the industry are open to the idea of letting banks and credit unions offer services at post offices.


Rakuten again withdraws application for bank charter


The Japanese conglomerate first applied for deposit insurance in July 2019 and again in May 2020.


Banks call on Congress to freeze new ILC approvals


Two trade organizations and a consumer group urged lawmakers to establish a three-year moratorium to block the charter bids of companies that they said were attempting to skirt regulatory requirements.


Banks, credit unions pan OCC idea to create charter for payments firms


Seven trade groups said they would fight any effort by the agency to establish a tailored license for payments providers such as PayPal, Stripe and Square.


Why coins are scarce and what government, banks are doing about it


The Federal Reserve, U.S. Mint and financial industry representatives are strongly considering a public call for Americans to deposit their spare change, among other fixes, to get coins circulating again. Meanwhile, banks of all sizes are getting creative at the local level.


Big banks urge HUD to shelve redlining plan. Small banks say not so fast.


The national conversation around systemic racism has compelled large banks to withdraw support from the “disparate impact” proposal. But community banks maintain that the proposed reforms would reduce frivolous claims.


Why bankers remain unsold on Fed's Main Street program


Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.