Min Tha Gyaw

Check out the newest blog post by our Advisory Board member, George Collins, on the #FHLBank System's relationship with community banks. In today's post, he debunks the argument that community banks rely so heavily on the FHLBs that any reform to the system would devastate these small lenders. #FHLB #communitydevelopment #bankreform https://lnkd.in/eWBTn6CA

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U.S. households that can’t make and receive digital payments can’t fully participate in an increasingly digitized economy. But the absence of a common definition of households that are underserved in digital payments makes it difficult – if not impossible – to collect relevant data and assess the scope of this problem. A new paper coauthored by Boston Fed economist Joanna Stavins aims to establish a common definition and to define digital payments inclusion. Read the paper: https://bit.ly/4eOI05F

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JUST PUBLISHED: 'It takes a village: Asian Development Bank (ADB) and MonetaGo on digital trade and partnerships.' In this podcast, Asian Development Bank (ADB)'s Steven Beck and MonetaGo's Neil Shonhard speak with Brian Canup about the role of development banks in seeding change, and how this applies to trade finance- the lifeblood of global commerce. “We believe that if we can digitalise trade, it would truly be transformative on a number of different levels.” - Steven Beck. “Where multilateral development banks are important – if not inspirational – is how they can often bridge the gap between public and private, creating inclusive markets, ecosystems, and economies.” - Neil Shonhard. Listen to the podcast and read the article now, via Trade Finance Global (TFG): https://lnkd.in/gHD6uuWc #globaltrade #tradefinance #digitalisation #fraudprevention #securefinancing

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We’re thrilled to announce the formation and funding of ModernFi CUSO, a credit union service organization dedicated to scaling the first deposit network exclusively for credit unions. With lead funding from Curql Collective and Members Development Company (MDC) and participation from Canapi Ventures and Andreessen Horowitz, ModernFi CUSO ensures credit unions can continue to grow and thrive while having direct ownership in their foundational infrastructure. ModernFi CUSO reinforces our commitment to the credit union ethos of “people helping people.” By leveraging the network, credit unions can grow deposits, serve their members more effectively, and optimize their balance sheets. Nick Evens, President and CEO of Curql, noted, “It levels the playing field for credit unions. Not only is ModernFi building the first full-service deposit network for the entire credit union industry, they’re also greatly expanding the audience of prospective business and consumer members that credit unions can serve.” Jeff Kline, CEO of MDC, added, “Simply put, the ModernFi deposit network is transformative for the industry... and will allow credit unions to be more competitive, serve new members, and accelerate their missions.” Rodney E. Hood, former chairman of the NCUA and ModernFi board member, concluded, “ModernFi stands as the foremost company in the market with regard to liquidity.” Read more here: https://lnkd.in/eaSXXkdK Come join the mission at modernfi.com/cuso

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Just months before the proposed implementation of the Consumer Financial Protection Bureau’s Open Banking rule, discussions are intensifying, with over 11,000 comments submitted. Banks are calling for more extensive regulation of fintechs, requesting a two-year extension to ensure compliance and implement necessary changes effectively. With consumers set to gain control over their financial data, banks are increasingly concerned about the security risks and liabilities posed by unregulated third parties. On the other hand, community banks have expressed concerns about the financial and technical burdens, emphasizing the need for mechanisms to recoup costs associated with the rule's implementation. #openbanking Read more:

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