Government Affairs Updates

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August 16, 2021
Nacha has accepted an invitation to serve on the inaugural America Saves Advisory Board. The Advisory Board will serve as a guiding post for strategic input and insights for the projects, campaigns, and initiatives that will be developed by America Saves.
August 3, 2021
Nacha recently filed comments in response to a request related to “Healthcare Standards Development, Adoption and Implementation” from the National Committee on Vital Health and Statistics (NCVHS).
August 2, 2021
This month’s Advance Child Tax Credit (ACTC) payments will be made by Direct Deposit with an effective date on Aug. 13.
August 2, 2021
Nacha filed comments this week pertaining to the Board of Governors of the Federal Reserve System (the “Fed”) notice and request for comment.
May 18, 2021
On Monday, May 17, 2021, the U.S. Department of the Treasury and the Internal Revenue Service announced that the first monthly payment of advanced Child Tax Credits (CTC) from the American Rescue Plan will begin on July 15, 2021.
November 18, 2020
Nacha’s Government Relations Advisory Group (GRAG) held their annual meeting on November 10th. The meeting focused on the Presidential & Congressional elections and what the policy implications may be for payments. Politico led off the day with a comprehensive election results analysis, followed by the Cowen Washington Research Group discussing fintech’s role in the 117th Congress and new administration. The mid-day portion of the meeting focused on FedNow/faster access to money and the outlook for more stimulus relief via ACH.
November 9, 2020
Nacha’s Government Relations team has been closely monitoring U.S. election results over the past week.
August 19, 2020
Federal Reserve Explores Digital Currencies; CFPB Issues Additional FAQs Re: Payday Lending Rule
August 19, 2020
On Aug. 13, 2020, The Federal Reserve issued a press release highlighting the research and experimentation the central bank system has been conducting to enhance its understanding of digital currencies and their use by central banks.
August 19, 2020
The Consumer Financial Protection Bureau (CFPB) recently issued answers for several Frequently Asked Questions regarding compliance with the Payday Lending Rule.
August 4, 2020
SBA Inspector General Reports ‘Widespread’ Fraud in Economic Injury Disaster Loan Program; CFPB to Issue ANPR on Consumer-Authorized Financial Data Access; FDIC Issues RFI Re: Potential Voluntary Certification Program Promoting Innovative Technologies.
August 4, 2020
On July 28, 2020 the Office of the Inspector General for the U.S. Small Business Administration issued a memo reporting findings of "widespread potential fraud" in the agency’s flagship Economic Injury Disaster Loan (EDIL) program (separate from the Paycheck Protection Program) for coronavirus relief.