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.

House & Senate Introduce Legislation to Eliminate Remotely Created Checks

This month, both Chambers of Congress have introduced legislation that would eliminate Remotely Created Checks (RCCs). Both House bill H.R. 1509 and Senate bill S.656 are driven by Democrat Members and focus on truth-in-lending changes aimed at the payday lending industry. These bills are likely to not have bipartisan support so the chance of Senate passage seems highly unlikely.