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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‘Fintechs Are from Mars, Financial Institutions Are from Venus’

May 20, 2019
ORLANDO, Fla.—JP Nicols believes it’s time to “get serious about innovation”—although his definition of innovation might differ from financial institutions’. “It’s not just ‘innovation theater,’” said Nicols, managing director of FinTech Forge. Nor is it “the fintech petting zoo.”

FBI’s IC3 Releases 2018 Internet Crime Report

May 16, 2019
Fraud schemes continue to grow, evolve and target legitimate businesses, nonprofits, government and other public-sector organizations. NACHA is committed to helping financial institutions, businesses, other organizations, and consumers protect themselves and prevent fraudulent activity.

Nacha Government Relations Summary - May 16, 2019

May 15, 2019
Administration Taking Fresh Look at Overdraft Fees The Consumer Financial Protection Bureau (CFPB) is taking another look at the 10 year old overdraft fee regulations. The effort is part of a new CFPB initiative to assess how existing regulations affect small businesses.

ACH Will Remain Part of the ‘Backbone of U.S. Payment System’

May 15, 2019
ORLANDO, Fla.—ACH is, and will remain, a vital part of the nation’s payment system, a senior Federal Reserve official told a Nacha conference. “We still expect the ACH Network to continue to be part of the backbone of the U.S. payment system. At the Federal Reserve we are still committed to that,” said Nell Campbell-Drake, vice president of the Federal Reserve Bank of Atlanta.

Is Your Company Due for a Digital Transformation?

May 15, 2019
ORLANDO, Fla.—“What would your company look like if you created it today?” Tom Goodwin asked that question to make a point.  “It’s much easier to build something from scratch than it is to destroy and change what you have,” said Goodwin, head of innovation at Zenith Media and author of “Digital Darwinism.” But in his keynote at Smarter. Faster. Payments 2019, he made clear that business as usual won’t cut it.

Nacha Statement Regarding Federal Reserve Proposal to Support Same Day ACH Enhancements

May 14, 2019
Nacha applauds the Federal Reserve Board of Governors for issuing its proposal to extend its settlement services to support Same Day ACH enhancements with later settlement hours. The industry has spoken loudly in support of the expansion of Same Day ACH, and the public benefits it will provide for all businesses and consumers that use the ACH Network. Risks due to the extension of settlement hours can be mitigated with changes that Nacha believes the industry can gradually adopt over the next year and 10 months.
Press Release

States Encourage Lawmakers to Address Cannabis Banking

May 13, 2019
Attorney Generals from across the country called on Congress to take up cannabis banking legislation that would allow lenders to serve cannabis businesses that operate legally at the state level. The officials warned in a letter to House and Senate leadership that the conflict between federal and state law when it comes to marijuana has forced cannabis businesses to operate on a cash basis, that complicates taxation and makes the businesses targets for criminal activity.

CFPB Takes a Fresh Look at Remittance Rule

May 9, 2019
The Consumer Financial Protection Bureau has issued a Request for Information (RFI) regarding potential regulatory changes to the current remittance Rule. The RFI seeks information on two specific areas of the rule.

Recipients of 2019 Nacha Payments Awards Named at Smarter. Faster. PAYMENTS 2019

May 8, 2019
Nacha announced the recipients of its 2019 Payments Awards, which celebrate proven accomplishment and leadership in the payments industry and recognize and reward the payments innovations defining the future. The Payments Awards include the Nacha Excellence in Payments Award and the ACH Network Challenge 2019. The award winners were recognized during the 2019 Nacha Payments Awards Luncheon, sponsored by TD Bank, during Smarter. Faster. PAYMENTS 2019.
Press Release