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.

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The American Economy Runs on ACH, Says Mercator Advisory Group White Paper

HERNDON, Va., May 28, 2020 – The ACH Network is woven into the daily payment activity of American consumers, businesses and government, says a Mercator Advisory Group white paper published today titled, “The Expanding Role of ACH in the Era of Faster Payments.” The paper also highlights how – as payments become faster – ACH supports the future of the industry with Same Day ACH, while providing the money-movement infrastructure for many other payment products.

Nacha Reports ACH Network Growth of 7.1% in First Quarter 2020; Expects Slowdown Due to COVID-19

HERNDON, Va., April 9, 2020 – The ACH Network opened 2020 with a strong first quarter, as the number of payments rose 7.1% from a year earlier. The results were driven primarily through robust growth occurring prior to the slowdown of economic activity due to COVID-19.

“While ACH results for the entire first quarter are positive, the current coronavirus national emergency is already impacting payment system volumes, including the ACH,” said Jane Larimer, Nacha President and CEO. 

Fintechs Hoping for Bank Charters Face Capital Hurdles

According to the Federal Deposit Insurance Corp., Capital requirements for fintechs interested in bank charters are proving burdensome. Newly chartered financial institutions are required by the Regulator to have achieved a capital-to-assets level of at least 8 percent during its first three years of operating.

FDIC Chairman Jelena McWilliams stated “Working through the capital adequacy issues for fintechs has been rather interesting and cumbersome.” She also said “A lot of them have equity but not really capital; a lot of them are profitable on paper but not really profitable.”