On July 17, 2019, the Consumer Financial Protection Bureau (CFPB) released an updated advisory regarding scams targeting seniors.

Nacha is leading the industry effort on API standardization. To accomplish this objective, Nacha supports Afinis Interoperability Standards, a membership-based governance organization that brings together diverse collaborators to develop implementable, interoperable, and portable financial services standards.

Nacha continues to work diligently with key partners in both the Healthcare and Dental industries. Second quarter 2019 Healthcare EFT transactions via ACH were up 9.4 million over the same quarter in 2018, which is a 12.8% increase.

It’s a nonprofit no-brainer: Encourage recurring donations through ACH/EFT.  “Those organizations that have been doing this, that started with EFT early on, they get it,” said Erica Waasdorp, founder and president of the fundraising consulting firm A Direct Solution, and author of “Monthly Giving. The Sleeping Giant.” She works with organizations of all sizes, but focuses on small donors—generally $250 or less—with an emphasis on monthly giving.  At a recent fundraising conference, Waasdorp’s co-presenter told her that 18% of her organization’s sustainers give by direct debit.

The ACH Network saw its highest quarterly growth rate in more than a decade during the second quarter of 2019, as volume climbed 7.7% over the same period in 2018. Same Day ACH volume rose 46%.

On July 9, 2019, Nacha’s Bill Sullivan, representing the ACH Network, was a panelist along with ICBA, The Clearing House and Financial Innovation Now (FIN) for a Congressional staff briefing on the Federal Reserve’s role in faster payments.

Nacha's Government Relations update provides insight on policy matters at the federal and state level that could impact the ACH Network. In this edition: Sullivan Addresses the Fintech & Payments Caucus Congressional Staff; SCOTUS Rules to Uphold Precedent Regarding Federal Regulators’ Strength of Power; and more.

On Jun 24, 2019 the Conference of State Bank Supervisors announced that a current total of 23 states have now joined a multi-state licensing agreement standardizing processes for non-bank money services businesses (MSBs), including fintech companies, with California and North Carolina being among the most recent to join.

On June 26, 2019, the U.S. Supreme Court issued a decision on Kisor v. Wilkie, ruling to uphold the controversial legal precedent known as “Auer deference,” under which courts defer to federal regulators’ own (and reasonable) interpretations of the agencies’ rules when regulations are ambiguous.

Summer is heating up! Nacha is offering cool savings on its Affiliate Program or the Payments Innovation Alliance now through Aug. 31.

The upcoming effective date of the rule on Supplementing Fraud Detection Standards for WEB Debits is extended from January 1, 2020 to March 19, 2021. This extension is in response to industry requests to allow additional time for awareness, education and implementation.