Testifying before a House Financial Services subcommittee today, bank CEO Jim Reuter said that a controversial proposal by the Biden administration requiring banks to report information to the IRS on gross inflows and outflows on customer accounts, “is yet another regulatory burden that would only lead to further consolidation in the industry.”
Browsing: Digital transformation
The future of banking is bright, provided the policy environment continues to support growth, bank CEO Jim Reuter said in prepared testimony submitted ahead of a House Financial Services subcommittee hearing today.
Banks of all sizes are hearing from many customers that they want exposure to the fast-growing but volatile cryptocurrency market. Vast Bank recently became the first nationally chartered, FDIC-insured bank to offer crypto banking.
SPONSORED CONTENT BY COMCAST BUSINESS The digitization of financial services has banks focused on enhancing…
BAFT, the American Bankers Association subsidiary association for international transaction banking, today published a white paper highlighting progress on trade digitization in 2021.
How getting the most out of collaboration tools can lead to a better future for banks.
As central banks around the globe explore whether to issue central bank digital currencies, there is a growing recognition that CBDCs involve very significant real-world trade-offs.
The most effective strategies for banks will have digital and brick-and-mortar channels working together to provide the greatest possible convenience and flexibility.
In remarks at a virtual industry event today, Federal Reserve Governor Lael Brainard said the Federal Reserve is sharpening its focus on central bank digital currencies and that it is working on several areas of research about the technology.
The Federal Reserve plans to publish this summer a discussion paper exploring the implications of issuing a U.S. central bank digital currency, Federal Reserve Chairman Jerome Powell said in a statement today.