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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 – May 21, 2020

Federal Agencies Issue “Interagency Lending Principles for Offering Responsible Small-Dollar Loans”

On May 20, 2020, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC) announced via press release that they have issued the "Interagency Lending Principles for Offering Responsible Small-Dollar Loans." The principles have been provided as guidance to help clarify regulatory expectations and to further encourage financial institutions to offer responsible small-dollar loans to their customers, particularly for consumer and small business purposes. This comes after a March 26 joint agency statement requested banks, savings associations, and credit unions consider offering small-dollar loans as part of their COVID-19 response, recognizing the important role such products can have in addressing customers’ needs to resolve potential cash-flow imbalances or budgetary shortfalls.

For additional information, see the FDIC Fact Sheet and the Financial Institution Letter.


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