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.

Powell Becomes Federal Reserve Chair on Feb. 5

On Feb. 5, 2018, Jerome Powell becomes Chair of the Board of Governors of the Federal Reserve System, replacing Chair Janet Yellen. Yellen will step down from the Federal Reserve altogether once Powell is sworn in, which will leave the seven-member Board temporarily with only three Governors — an unprecedented occurrence.
 
The incoming Chairman, who has sat on the Fed's Board since 2012, was confirmed by the Senate for his new role on Jan. 23.