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.

Financial CHOICE Act Clears House

On June 8, 2017, the House passed the Financial CHOICE Act by a nearly party-line vote of 233 to 186 with only one GOP member voting against the bill (Walter Jones of North Carolina). Major provisions of the bill included CFPB reorganization, regulatory relief for community institutions and repeal of the Volcker rule. The bill now heads to the Senate where it will likely be broken up into smaller pieces and passed as part of a U.S. competitiveness initiative. Vote counts can be seen here.