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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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Nacha Government Relations Update – Jan. 9, 2020

OCC Appeals Fintech Charter
On Dec. 19, 2019, the Office of the Comptroller of the Currency appealed a decision by a federal judge that said the agency cannot issue bank charters to institutions that don’t take deposits. That means for now, financial technology firms cannot apply for the OCC’s limited national charter.

The NYDFS took legal action against the national bank regulator, saying the OCC does not have the legal authority to charter fintech startups under the National Bank Act.



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