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NASHVILLE, Tennessee —The financial industry looks a lot different than when the Federal Reserve opened for business in 1914, and changes keep coming. That has the Fed rethinking some of the ways it operates. “Like many of you we’re watching the payments …
Despite Concerns Over Mail Delivery, Overwhelming Majority of Federal Government Payments Continue to be Made On Time
More than 97% of Recipients of Social Security and Veterans Benefits Rely on Direct Deposit HERNDON, Va., August 19 , 2020 – In recent days, significant concerns have been raised over the delivery of payments from the Social Security Administration and …
In the aftermath of Hurricane Katrina, financial institutions are likely to receive numerous inquiries from their account holders regarding the processing of ACH debit entries to their accounts. It is anticipated that many of these questions may relate to …
Any professional in the payments industry can work towards accreditation. If you have worked in ACH for years, you will add a highly respected qualification to your resume; if you are relatively new to the field, you will give yourself an edge over the …
Accredited Payments Risk Professionals (APRP) have mastered the complexities of risk management for ACH, check, wire, debit, credit and prepaid cards, and emerging and alternative payments. Any professional in the payments industry can work toward …
ACH Operations Bulletin #3-2019: Amount of Unauthorized Entry Fee Will Remain the Same Through September 2022
EXECUTIVE SUMMARY The rule establishing the current Unauthorized Entry Fee provides that the amount will be re-evaluated every three years, with the initial 3-year period ending on September 30, 2019. The amount of the Unauthorized Entry Fee will remain …
EXECUTIVE SUMMARY The effective date of the new Same Day ACH processing window is deferred by 6 months until March 19, 2021. The Federal Reserve Board of Governors (“Fed Board”) has informed Nacha that it will not be able to provide timely notification of …
ACH Operations Bulletin #4-2019: Extension of the Effective Date for Rule Supplementing Fraud Detection Standards for WEB Debits
EXECUTIVE SUMMARY 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 …
ACH Operations Bulletin #1-2019: Indemnification Agreement for Use by Financial Institutions in Requesting Return of Funds from ACH Entries
EXECUTIVE SUMMARY Nacha is publishing the attached form, entitled “Indemnification Agreement – Request for Return of Funds from ACH Entry” (“Indemnification Agreement”), for use by financial institutions in certain situations in which an ODFI requests the …