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Creating the Nacha Rules is a ‘Democratic Process’
If you’re of a certain age and spent Saturday mornings in front of the TV, you probably remember “I’m Just a Bill” from “Schoolhouse Rock!” explaining how bills become laws. While there’s no equivalent cartoon for how the Nacha Operating Rules are made, …
Understanding Digital Assets and Debunking Crypto Myths
NEW ORLEANS —Financial inclusion is an issue getting a lot of attention from regulators, lawmakers, bankers and others. Could digital assets be at least part of the solution?  “When we think about what this technology can do from an inclusion standpoint, …
Debunking Common Myths About Same Day Returns
If your bank or credit union has an item to return, wouldn’t you want it out the door ASAP? It can be done. Returns can go right out using same day processing windows. But that capability is being underutilized, and misconceptions appear to be a major …
Will Consumers Accept Open Banking? A Global Perspective
NEW ORLEANS —Open banking has a lot of moving parts, but at the end of the day it might well come down to two words: consumer acceptance.  “In the U.S. it does seem that consumers are willing to engage in open banking to initiate payments, to link a bank …
Fighting Fraud Across the Globe: What Other Countries are Doing
NEW ORLEANS —If ever there was a case where misery loves company, it’s fraud. “Fraud is a global issue. I think we all know it’s not just a domestic one in payments,” said Jane Larimer, Nacha President and CEO.  “I know that if I asked payments …
ACH Usage by Businesses Grew in 2024, Fed Study Shows
The number of businesses using both standard and Same Day ACH grew significantly from 2023 to 2024, a new Federal Reserve report found. The Federal Reserve Financial Services’ 2024 Business Payments Study asked businesses about the methods they used to …
Moving Small Business from Checks to ACH Proves an Uphill Climb
NEW ORLEANS —A mom-and-pop restaurant is way different from a neighborhood lawn care company, which has little in common with the one-person consulting firm. Yet as Peter Tapling notes, “We tend to paint small business with a broad brush,” no matter how …
Could AI Be a Weapon in the War on Fraud?
NEW ORLEANS —For all the talk that artificial intelligence will lead to more payments fraud, maybe it’s just the opposite.  “I believe AI is going to help mitigate fraud versus being an advocate for some nefarious fraudster out there that’s going to start …
Are the ACH Systems at Your FI Resilient to Today’s Threats?
NEW ORLEANS —Jordan Bennett was working at the Federal Reserve when Hurricane Katrina slammed the Gulf Coast, and he remembers banks needing their ACH files as lines of communication were cut.  “We had to figure out on the fly how we were going to do it. …