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December 29, 2020
Updated December 30, 2020
The IRS and the U.S. Treasury have confirmed that 113 million 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) on Jan. 4. The EIPs by ACH will…
ACH, ACH Network, ACH Operations, Advocacy, Direct Deposit, Direct Payment via ACH
December 16, 2020
It was two years ago when Nacha's Payments Innovation Alliance launched the Faster Payments Project Team to play a crucial role in helping organizations gain clarity on faster payments. Its mission was to provide tools to help financial institutions and business end users shape their faster…
Faster Payments
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
October 2, 2020
Nacha has approved eight new amendments to the Nacha Operating Rules governing the use of ACH payments. Many of the changes reflect a long-term strategy to modernize the ACH system, both through infrastructure improvements such as Same Day ACH; and making ACH payments easier to use for the country’…
ACH, ACH Network, NACHA Operating Rules, Risk & Compliance, Risk Management
September 18, 2020
When COVID-19 forced much of the world into lockdown it was unchartered territory for many, including Nacha Consulting, formerly Elevation Consulting. As it turns out, we’ve been busy in recent months, and noticed a common thread among our clients: they want anything tied to payments to be moved to…
ACH, ACH Network, ACH Operations, Non-ACH Payments (i.e. wires, credit/debit cards, etc.), Products and Solutions
August 26, 2020
Phixius, Nacha’s payment information exchange platform, has been selected to present at Finovate on Monday, Sept. 14, at 2.25 p.m. ET. Finovate features demos and presentations on the latest innovations in financial technology.
Nacha technology advisor Peter Tapling will be presenting the…
ACH, ACH Network, Faster Payments, Products and Solutions, Risk Management
August 19, 2020
Federal Reserve Explores Digital Currencies
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…
Government Relations News
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