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November 9, 2020
Nacha’s Government Relations team has been closely monitoring U.S. election results over the past week. For a summary, read the RFA Election Analysis, prepared for Nacha by Rich, Feuer & Anderson.
Government Relations News, Government Relations Policy Updates
October 19, 2020
ACH Operations Bulletin #7-2020 Nacha Provides Update on COVID-19 Relief and Upcoming Effective Dates
Approximately six months ago, Nacha issued several ACH Operations Bulletins and Frequently Asked Questions announcing relief from a variety of requirements of the Nacha Operating Rules due to the impact of the coronavirus pandemic. This ACH Operations Bulletin provides an update on…
ACH, ACH Network, ACH Operations, Operations Bulletin
September 17, 2020
Nacha’s Payments Innovation Alliance Releases Two New Resources Focused on Voice Payments and Pandemic-Related Cybersecurity Best Practices
The Alliance’s Project Teams continue to play a crucial role in providing thought leadership on topics impacting the payments space and financial services
HERNDON, Va., Sept. 17, 2020 – In its continued efforts to shape the future of the payments industry and to develop thought leadership…
Innovation, Membership
August 19, 2020
On Aug. 13, 2020, The Federal Reserve issued a press release highlighting the research and experimentation the central bank system has been conducting to enhance its understanding of digital currencies and their use by central banks. Additionally, as an effort to support the Federal Reserve Board’s…
Government Relations Policy Updates
August 19, 2020
The Consumer Financial Protection Bureau (CFPB) recently issued answers for several Frequently Asked Questions regarding compliance with the Payday Lending Rule. This is in addition to the agency’s previously issued resources, including a Small Entity Compliance Guide, to assist with industry…
Government Relations Policy Updates
August 4, 2020
On July 28, 2020 the Office of the Inspector General for the U.S. Small Business Administration issued a memo reporting findings of "widespread potential fraud" in the agency’s flagship Economic Injury Disaster Loan (EDIL) program (separate from the Paycheck Protection Program) for coronavirus…
Government Relations Policy Updates
August 4, 2020
The Consumer Financial Protection Bureau (CFPB) has announced that the agency plans to ask for input later this year via an advance notice of proposed rulemaking (ANPR) regarding implementation of Section 1033 of the Dodd-Frank Act, which governs consumers’ access to their financial data.
The…
Government Relations Policy Updates
July 15, 2020
On July 7, 2020, the Consumer Financial Protection Bureau (CFPB) announced it has issued a final rule regarding “Payday, Vehicle Title, and Certain High-Cost Installment Loans”, eliminating the requirement for loan underwriting and income verification, citing “insufficient legal and evidentiary…
Government Relations Policy Updates
July 15, 2020
If you are like the rest of us, both your home and professional lives may have experienced some jolts due to the ongoing pandemic. And the payments industry has not been immune either. As business conditions continue to change, now is the perfect time for Alliance members to meet virtually to…
Innovation, Membership
June 30, 2020
The Supreme Court ruled in a 5-4 decision (Roberts) that the CFPB’s single-director structure / “for cause” provision is unconstitutional. A separate 7-2 opinion (Roberts, Alito, Kavanaugh) ruled that the removal provision can be severed from the rest of Dodd Frank, which means the CFPB will…
Government Relations Policy Updates