NACHA Government Relations Update - Dec. 15, 2015

Posted December 11, 2015

Government Relations Finishing the Year Strong in Washington, DC
 
On Dec. 3, 2015, NACHA hosted a “Lunch-N-Learn” briefing on Capitol Hill to educate Congressional staff on faster payments with emphasis on the value of Same Day ACH and private sector rulemaking. Jane Larimer of NACHA led the discussion with two members as panelists. Joe Hussey – Executive Director, J.P. Morgan and Chair of NACHA’s Rules and Operations Committee and Jeremy Pritchard – Senior Vice President, State Bank and Trust added their insights on how Same Day ACH will benefit their customers and add efficiencies to the U.S. payments system. The briefing was well attended by Congressional staff and NACHA plans to do more “Lunch-N-Learn” briefings in 2016.
 
On Dec. 9, 2015, the Government Relations Advisory Group (GRAG) held their in-person meeting at the Capitol Hill Club and featured a one hour discussion with CEBP Director, Richard Cordray in the morning and a one hour discussion with U.S. Rep. Bill Huizenga (R-MI) in the afternoon. This was a great opportunity for GRAG members to hear directly from some of the most powerful people in the policy space. The meeting also featured Karen Hobbs from the Federal Trade Commission discussing the recent Telemarketing Sales Rule, Compass Point Research on 2016 regulatory policy in the payments space and a panel with representatives from PayPal, Samsung and First Data on 2016 policy issues impacting the FinTech community.
 
On December 10th, after several meetings on Capitol Hill, lead by Jaime Graham, NACHA convened the quarterly regulator meeting at the Office of the Comptroller of the Currency (OCC). The meeting topics included Same Day ACH, Third Party Service Providers, the FFIEC Information Technology Examination Handbook updates and a discussion led by the Conference for State Bank Supervisors on regulating virtual currencies. 
 
December 11th, Jan Estep, Jane Larimer and Bill Sullivan met with the Federal Reserve Board’s Bank Operations and Payment Systems group for the final quarterly meeting of 2015. This was the first meeting since the Fed Board adopted the use of Same Day ACH. The meeting was an opportunity to engage Fed Board staff on some 2016 priorities for the ACH Network.

Legislative Tool Kit
House 2015 Calendar (in the right hand bar)
Senate 2015 Calendar (in the right hand bar)​​

 

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