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December 29, 2020
Updated December 30, 2020
The IRS and the U.S. Treasury have confirmed that 113 million economic impact payments (EIPs) by ACH are being processed this week, with an effective date of Monday, Jan. 4, 2021. Under the Nacha Rules, RDFIs must make funds available by 9:00 a.m. (RDFI local time…
ACH, Advocacy, Direct Deposit, Direct Payment
October 9, 2020
In a recent interview with PaymentsJournal, Nacha’s Jane Larimer discusses how the ACH Network delivered stimulus payments on time.
As part of the CARES Act, by the end of August, the government had distributed $270 billion in funds in stimulus payments. However…
ACH, Advocacy, Direct Deposit, Direct Payment
August 19, 2020
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 the Veterans Benefits Administration…
ACH, Advocacy, Direct Deposit, Government Relations News
May 10, 2019
According to the Federal Deposit Insurance Corp., Capital requirements for fintechs interested in bank charters are proving burdensome. Newly chartered financial institutions are required by the Regulator to have achieved a capital-to-assets level of at least 8 percent during its first three years…
Legislative and Regulatory
May 10, 2019
Click here for a summary of the Congressional Outlook for May 2019.
Legislative and Regulatory
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.
Temporary Exception Expiration Questions: First, the RFI seeks information…
Legislative and Regulatory
February 4, 2019
Payments-related regulatory guidance helps to ensure the security and efficient exchange of ACH transactions and other electronic payments. Regulatory bodies such as FinCEN, FFIEC, FDIC, OCC and others issue and update guidance regularly, and it is important that financial institutions and other…
ACH, Legislative and Regulatory, Risk Management