Cary Whaley

Cary Whaley with the Independent Community Bankers of America says the delay does not come as a surprise, as it represents "a total reworking not only of the international ACH rules, but of ACH rules in general." He says the code offers an opportunity that community banks should consider as their small-business clients pursue more international business. "This IAT affords a two-way money movement alternative to wire transfer or a third-party solution such as PayPal," Whaley says.