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.

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Nacha Meets with Treasury Staff and Operators to Discuss Stimulus Payments

Nacha staff recently met with representatives from Treasury, IRS, Fiscal Services and the ACH Operators to discuss lessons learned from the recent U.S. stimulus payments to U.S. citizens to help boost our economy due to the COVID-19 pandemic. The majority of the payments were made swiftly and correctly so the meeting focus was to learn from the first round and prepare for a potential second round of EIPs if Congress enacts another round of payments. Topics included identifying the payments, availability of payments and better communications with financial institutions, banking trades and among all the participants responsible for these payments.

It is yet to be seen if Congress will enact a second CARES Act. Nacha is monitoring this closely and meeting with Congressional staff to ensure ACH is the payment of choice for these government payments.

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