Nacha Collaborates With Government and Industry
Nacha seeks to protect the interests of private sector rulemaking and ACH Network participants by fostering positive collaboration with key U.S. government entities, including legislators and regulators (e.g., the Federal Reserve, the Consumer Financial Services Bureau and U.S. Department of Treasury), in addition to financial services and end-user trade groups.
Nacha’s feedback to regulators, Congressional committees, members of Congress and staff and other governmental agencies means that the ACH Network is put to the best use at a governmental level.
Members and ACH Network participants enjoy clear explanations and assistance, from Nacha, about how government initiatives affect the Network.
Financial trade groups and end-users trades have a voice in the inclusive process of rulemaking.
Participate in the Process, Become a Nacha Direct Member
All Nacha Direct Members can participate in the Government Relations Advisory Group (GRAG), which helps to promote the use of the ACH Network and protects participants’ interests by assisting Nacha in developing positions on specific payments system issues as well as reviewing documents such as congressional testimony, requests for comments and statements for the record.
When Crisis Struck, Direct Deposit Delivered for Americans
As the coronavirus pandemic raged across the country, the U.S. government turned to Direct Deposit to deliver millions of stimulus payments to Americans. On April 15, exactly as the IRS instructed, 81 million Americans woke up to find their stimulus payments safely in their bank accounts thanks to Direct Deposit. Ultimately, the IRS would authorize 120 million payments via Direct Deposit.