NACHA

News & Analysis as of

NACHA Proposes Same-Day ACH Processing

On December 8th, NACHA proposed changes to the NACHA Operating Rules that would enable almost all ACH transactions, including both credits and debits, to be processed on the same day. Currently, ACH transactions are usually...more

Financial Services Weekly News Roundup - December 2014 #2

Editor’s Note - Spotlight on FINRA Retrospective Rule Review: On December 9, FINRA announced it had issued reports on its retrospective review of two groups of rules – a report on the rules on communications with the...more

CFPB Director Cordray Issues Warning to Bankers

Director Cordray’s remarks to the Clearing House Thursday should unsettle bankers and payday lenders alike. In his talk, Director Cordray challenged bankers to bow to the inevitable. He suggested that sooner, rather than...more

Second Circuit Issues Decision in Payday-Loan Regulatory Case

In a clash of competing sovereigns’ interests, the Second Circuit recently upheld, for now, the authority of the New York Department of Financial Services (DFS) to regulate online payday loans made by Indian tribal lenders to...more

NACHA Invites Comments on Proposed Rules To Improve ACH Network Quality

NACHA, the organization that administers the Automatic Clearing House (ACH) network, recently announced proposed modifications to its Rules and invited comments on or before January 13, 2014. While much of what NACHA proposes...more

NACHA Proposes Rules To Improve ACH Network Quality

On November 12, NACHA, which manages the development, administration, and governance of the ACH network, released two proposed rules that it describes as complementary approaches to improving ACH Network quality by reducing...more

New York Takes Aim at Internet Payday Lenders and Other Industry Players

The Cuomo administration, through the New York State Department of Financial Services (DFS), recently announced aggressive enforcement-related activities in an ongoing DFS investigation designed to stop supposedly unlawful...more

NACHA Bulletin Addresses Reinitiation Of Returned Debits

On July 15, the Electronic Payments Association (NACHA), the organization that manages the ACH Network, issued a bulletin that describes the provisions of NACHA’s operating rules regarding the “reinitiation” of returned ACH...more

NACHA Proposes Clarification Of Third Parties In ACH Network

On May 20, NACHA, the organization that manages the ACH Network, requested comment on proposed changes to the NACHA Operating Rules to clarify the definitions, roles, and responsibilities of third parties in the ACH Network....more

NACHA’s Guidelines For Bill Payments Via QR Codes

NACHA, the Electronic Payments Association, has just taken a step towards easing consumer payments via mobile devices. The Council for Electronic Billing and Payment, a subsection of NACHA, released its 'Quick Response...more

NACHA Finalizes Guidelines For Use Of Quick Response Codes For Consumer Bill Pay

Recently, NACHA – The Electronic Payments Association’s Council for Electronic Billing and Payment, released final guidelines to facilitate the use of Quick Response (QR) codes for a variety of consumer bill payment...more

NACHA Issues Guidelines for Using QR Codes in Bill Pay Services and ACH Payments

NACHA’s Council for Electronic Billing and Payment recently released a guide on the use of “quick response” codes (or “QR codes”) to facilitate bill pay services, including initiating ACH payments and reviewing accounts....more

NACHA Requests Comment on Standardizing P2P Payments Using WEB Code

NACHA has released several concurrent requests for comment (“Requests”) on proposals to amend the NACHA Operating Rules (Rules), including amendments to the Rules regarding “compliance/operational topics” and international...more

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