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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
June 16, 2020
Nacha staff recently met with representatives from Treasury, IRS, Fiscal Services and the ACH Operators to discuss lessons learned from the recent U.S. stimulus payments to U.S. citizens to help boost our economy due to the COVID-19 pandemic. The majority of the payments were made swiftly and…
Government Relations Policy Updates
June 16, 2020
Nacha’s GRAG recently held a conference call with Kevin George, Senior Advisor, Economic Policy for Fintech Task Force for Chairman Lynch (D-MA) two days before the Task Force Hearing on "Inclusive Banking During a Pandemic: Using Fed Accounts and Digital Tools to Improve Delivery of Stimulus…
Government Relations Policy Updates
May 17, 2020
Accredited ACH Professionals (AAPs) are recognized for their ACH payments expertise, providing a competitive edge in the business and financial arenas. The AAP exam is conducted annually in October. Make sure you have all the latest information on registration dates and fees.
Accreditation, ACH
April 14, 2020
In light of the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) issued a policy statement announcing the Bureau’s current flexible approach to its supervision and enforcement regarding certain requirements for remittance transfers. The intent is to allow insured institutions to…
Government Relations Policy Updates
March 3, 2020
On Feb. 21, 2020, Nacha filed a comment letter to the Securities and Exchange Commission (SEC) in response to the notice and request for comment regarding Fee Payment Modernization. The SEC requested comment on their proposal to eliminate payment by checks and money orders and replace those payment…
Government Relations Policy Updates
March 3, 2020
Government Relations News, Government Relations Policy Updates
February 19, 2020
Nacha was acknowledged in the Congressional Record for being one of the best places to work. The proclamation by Reps Connolly and Wexton called out Nacha as an employer and the tremendous value of the ACH Network.
Government Relations Policy Updates
February 19, 2020
Government Relations News, Government Relations Policy Updates
February 19, 2020
The FDIC has approved Varo Money’s application for deposit insurance, putting it on the brink of becoming the first financial technology company to obtain a national bank charter. The OCC previously gave preliminary approval in 2018 to a charter, which has rebranded itself as Varo Bank. Varo will…
Government Relations Policy Updates