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

Nacha Confirms Effective Date of Same Day ACH Expansion

As the steward of the ACH Network, Nacha applauds the Federal Reserve Board of Governors’ approval today of the extension of the National Settlement Service operating hours, which is necessary for the expansion of Same Day ACH. With the issuance of the notice today by the Board of Governors, Nacha confirms that the effective date of the expansion of Same Day ACH is March 19, 2021.

Nacha Named One of the Best Places to Work in Virginia for the Second Consecutive Year

HERNDON, Va., Jan. 13, 2020 – Nacha has been named one of the Best Places to Work in Virginia for a second consecutive year. The annual list was created by Virginia Business Magazine and Best Companies Group. 

This statewide survey and awards program is designed to identify, recognize and honor the best places of employment in Virginia, benefiting the state's economy, workforce and businesses. The 2020 Best Places to Work in Virginia list is made up of 100 companies.

Nacha Announces New Officers and Directors for 2020

Nacha today announced its new Board Chairperson and Secretary/Treasurer as well as six new directors. The Nacha Board oversees the governance and administration of Nacha as the ACH Network administrator and industry trade association.

“We are pleased to welcome our new officers and directors,” said Nacha President and CEO Jane Larimer. “Together our Board represents a diverse set of financial institution voices and helps us ensure the modern ACH Network continues to thrive and evolve.”

The Board of Directors elected Joe W. Hussey to serve as Chairperson for 2020. Hussey, who is Managing Director at J.P. Morgan, officially took the gavel Jan. 1.

Additionally, Lawrence D. Taft, AAP, CTP, Executive Vice President and Director of Retail Banking & Operations at Citizens Bank & Trust, has been elected by the Board to serve as Secretary/Treasurer. He assumed the role upon election.

Further, six individuals began terms as Nacha Directors in January:

  • Marlene Barkheimer, President & Chief Executive Officer, Farmers State Bank
  • Jason Carone, AAP, APRP, CTP, Product Management Director, Silicon Valley Bank
  • Nicholas J. Drinkwine, Senior Vice President, Senior Director of Enterprise ACH & Wire Operations, Capital One
  • Stephen C. Max, Senior Vice President, Head of Transaction Processing Operations, U.S. Bank
  • William J. Schoch, President & Chief Executive Officer, WesPay
  • Michelle E. Ziolkowski, CTP, Senior Vice President, Head of Global Payables, Wells Fargo

“Before we dive into 2020 business, I want to take pause to thank those who have served on the Board and welcome those new to the Board,” said Hussey. “The payments landscape is evolving rapidly and it’s great to lead a board of dedicated professionals focused on how we can ensure the continued vitality of the ACH Network.” 

 

About Nacha

Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2018, there were 27 billion ACH payments, and more than $51 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.