Nacha News

Nacha creates broadly adopted payment and financial messaging rules and standards through consensus-led governance, international collaboration, and innovative development practices. We continually advance the ubiquitous ACH Network and engage diverse stakeholders to accelerate a digital future of global financial services interoperability.

Featured News

Jane E. Larimer to be Next CEO of Nacha

Announcement Coincides with Refreshed Nacha Brand Uniting its Programs and Initiatives through New Visual Identity

ORLANDO, Fla., May 6, 2019 – The Nacha Board of Directors has selected Jane E. Larimer as the next President and CEO of Nacha effective July 1, 2019. The Board thanks Janet O. Estep, Nacha’s current President and CEO for her successful 11 years of leadership of Nacha and within the payments industry, and welcomes her assistance in the transition before she retires at the end of 2019.

Nacha Introduces the Nacha Corporate Experience

The Nacha Corporate Experience Combines Standards and Technology to Deliver a More Efficient Payments Experience for Today’s Businesses 

ORLANDO, Fla., May 6, 2019 – Today, Nacha introduces the Nacha Corporate Experience, a new way of demonstrating how businesses can more effectively exchange payments and information.

CFPB Takes a Fresh Look at Remittance Rule

The Consumer Financial Protection Bureau has issued a Request for Information (RFI) regarding potential regulatory changes to the current remittance Rule. The RFI seeks information on two specific areas of the rule.

  • Temporary Exception Expiration Questions: First, the RFI seeks information and evidence that may inform possible changes to the rule that would not eliminate, but would mitigate the effects of the expiration of a statutory exception for certain financial institutions. The current temporary exception in the Remittance Rule runs to July 21, 2020 and does not authorize the Bureau to extend this term. 
  • Institution and Transaction Coverage Questions: In addition, the RFI seeks information and evidence related to the scope of coverage of the rule, including whether to change a safe harbor threshold in the rule that determines whether a person makes remittance transfers in the normal course of its business, and whether an exception for small financial institutions may be appropriate.

The public will have 60 days to comment on the request for information once it is published in the Federal Register. If you would like to review and/or comment on the RFI, it is available here.