NACHA Study Reveals Donors Who Use Direct Withdrawal via ACH Gave More Than Double in a 12-Month Period Compared to Those Using Other Payment Types

Posted October 31, 2017

Research confirms that direct withdrawal via ACH as a giving method more fully supports nonprofit goals and objectives by retaining and cultivating sustaining donors.

Congress Votes to Scrap CFPB’s Arbitration Rule

Posted October 25, 2017

On Oct. 24, 2017, the U.S. Senate voted to kill a landmark financial regulation that restricts banks and credit card companies from imposing mandatory arbitration on their customers as a means to resolve disputes.

Same Day ACH Debits Go Live with Nearly 2 Million Transactions and $1.5 Billion in the 11 Processing Days of September 2017

Posted October 18, 2017

Initial transaction volume data for newly implemented Same Day ACH debit transactions demonstrate strong performance and adoption for this faster payments option in its first 11 processing days of operation from Sept. 15-30, 2017.

NACHA Government Relations Update - Oct. 19, 2017

Posted October 18, 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 Releases Principles for Consumer-Authorized Financial Data Sharing and Aggregation, Cohn Indicates Increased Asset Threshold for Banks Facing Increased Regulation, FRB Revises PSR Policy to Allow for Same Day ACH Entries and more.
 

Senator Markey Pens Letter to CFPB on Protecting Consumer Data

Posted October 18, 2017

On Oct. 16, 2017, Sen. Markey (D-Mass.) wrote a letter to the Consumer Financial Protection Bureau to weigh the data security of third-party aggregators allowing consumers to access their financial data.

Cohn Indicates Increased Asset Threshold for Banks Facing Increased Regulation

Posted October 18, 2017

On Oct. 16, 2017, National Economic Council Director Gary Cohn announced at an industry event that there is bipartisan support for raising the $50 billion asset threshold above which banks face increased regulation, and that he expects the final number to be at least $200 billion.

Senator Crapo Questions Regulator Oversight of Credit Reporting Firms

Posted October 17, 2017

On Oct. 12, 2017, Senate Banking Committee Chairman, Mike Crapo (R-Idaho) sent a letter to heads of the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) expressing concern regarding the level of oversight of credit-reporting firms such as Equifax.

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.