Caitlin Long: Big banks actively seek to slow down payment systems

Caitlin Long: Big banks actively seek to slow down payment systems
Big banks aim to slow payment systems

Caitlin Long, founder and CEO of Avanti Bank & Trust at Custodia Bank, urges community banks to closely observe the actions of large banks instead of relying on their public statements.

Long points out that, according to disclosures made by a big bank lobbyist at a recent Philadelphia Federal Reserve conference, major banks are purposefully working to delay payment processes rather than expedite them. She flags that following this revelation, a major bank announced a related development.

Long has previously criticized the Biden administration for actions against Silvergate Bank, describing them as government overreach in one of her recent commentaries. She has also highlighted concerns over lagging banking technology in the United States, referencing Fed comments in a separate analysis. These past arguments contextualize her ongoing scrutiny of large bank practices and policy interventions.

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