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RESTON, Virginia, Aug. 5, 2024 – Nacha announced today that SouthState Bank has become i ts newest Direct Member. With SouthState Bank's addition, Nacha now has 46 Direct Members, which include financial institutions and Payments Associations. "We are …
It’s a good problem to have: Going to Smarter Faster Payments 2024 and making sure you don’t miss a thing. “You have to plan your whole schedule on where you want to be and at what time, because it’s packed full of information,” said Lisa S. Coffey, Chief …
A TPS that has agreed with a Participating DFI to process Entries has certain, specific ACH Rule obligations, including the requirement to implement an ACH Risk Management Program. The components of an effective ACH Risk Management Program typically …
With the economic slowdown that resulted from the pandemic, the Nacha Risk Management Advisory Group (RMAG) updated its recommendations for ODFIs on sound business practice on exposure risk management. RMAG has a long history of providing sound business …
The third window for submitting Same Day ACH payments to the ACH Network has quickly gained acceptance among financial institutions, according to new survey results conducted by Nacha and its Risk Management Advisory Group (RMAG). The extension of Same …
When I say “risk management,” most people immediately think of preventing fraud and stopping the bad guys. While this is a big part of what we do in risk management, it isn’t the whole picture. Risk management involves identifying and preventing many …
If an Originator realizes it has fallen victim to credit-push fraud, the only obvious fact may be that a payment didn’t reach the intended Receiver. Beyond that, a flurry of questions can create uncertainty at a time that calls for decisive action. A …
RMAG’s Considerations for FIs Regarding Their Third-Party Senders’ Compliance with Audit and Risk Assessment Requirements
Nacha’s new Third-Party Sender Roles and Responsibilities Rule changes come into effect on September 30, 2022. The overarching purpose of the Rule change is to further clarify the roles and responsibilities of Third-Party Senders (TPSs) in the ACH Network …