NACHA Launches the Accredited Payments Risk Professional Program

Posted October 11, 2017

APRP program tests payments professionals’ comprehensive knowledge of risk management across all payments types. First-ever APRP exam to be administered in March 2018.

Treasury Releases Second Report on the Administration’s Core Principles of Financial Regulation

Posted October 11, 2017

On Oct. 6, 2017, the U.S. Department of the Treasury released a report detailing how to streamline and reform the U.S. regulatory system for the capital markets.

FRB Revises PSR Policy to Allow for Same Day ACH Entries

Posted October 11, 2017

The Board of Governors of the Federal Reserve System (Board) has revised part II of the Federal Reserve Policy on Payment System Risk (PSR policy) related to the transaction posting times used for measuring balances intraday in institutions' accounts at the Federal Reserve Banks (Reserve Banks) to conform to amendments to regulations governing the use of the Automated Clearing House (ACH) Network by Federal agencies announced by the Department of the Treasury, Bureau of the Fiscal Service (Fiscal Service).

Acting Comptroller of the Currency Rescinds 2013 Deposit Advance Products Guidance

Posted October 11, 2017

On Oct. 5, 2017, as the CFPB released regulations impacting some small-dollar loans, the Office of the Comptroller of the Currency did the opposite and rescinded 2013 Deposit Advance Products Guidance, thereby making it easier for national banks to make small, short-term loans to customers who regularly receive direct deposits via ACH.

Senate Confirms Randal Quarles as Federal Reserve Board Governor

Posted October 11, 2017

On Oct. 5, 2017, the U.S. Senate voted (65-32) to confirm Randal K. Quarles as a Federal Reserve Board Governor and as Vice Chairman for Supervision and Regulation, making him the first person to ever officially hold the position created by the 2010 Dodd-Frank Act.

CFPB Issues Final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans

Posted October 5, 2017

On Oct. 5, 2017, the Bureau of Consumer Financial Protection issued this final rule to create consumer protections for certain consumer credit products.

NACHA’s API Standardization Industry Group Names First Five APIs to Develop to Support Payments Industry Advancement

Posted October 5, 2017

Summary Meeting Report and Overview Document, released today, also identifies the additional APIs for future development. Group will reconvene at the Payments Innovation Alliance Meeting Oct. 11 to further work efforts.

NACHA Government Relations Update - Oct. 5, 2017

Posted October 3, 2017

NACHA's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: CFPB Issues Final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans; White House Releases Tax Reform Framework; Beginning Sept. 11, 2017, and more.