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When you need a hand from someone at another financial institution, finding that someone can be daunting. But things are about to change. A new Rule creates the ACH Contact Registry, which opens July 1, 2020. It’s going to make locating the right person …
There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. In his experience, many Originating Depository Financial Institutions (ODFIs) “really aren’t interested in Third-Party Senders because of the …
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 …
Once scammers get a victim’s money, they’re far from done. They often need to move the money—and they’re not going to do it themselves. That’s where they employ the help of others—some knowingly, but many not: money mules. “A money mule is someone who …
Payroll impersonation and redirection fraud is a fact of life today, but there’s a new way to help fight it. As part of its ongoing commitment to help protect against fraud, Nacha worked with payroll providers, Receiving Depository Financial Institutions …
The purpose of the CFPB request was to propose a delay to the effective date of the mandatory underwriting provisions of the regulation promulgated by the CFPB in November 2017 governing Payday, Vehicle Title, and Certain High-Cost Installment Loans (the …
HERNDON, Va. , Jan. 22, 2020 – Nacha is partnering with seven members of The Center for Payments to expand the reach of Nacha Certified, a voluntary certification program for Third-Party Senders that enhances the quality of the ACH Network. Under a new …
Nacha provided comments on the notice of proposed rulemaking (the “Proposed Rule”) regarding Federal Government participation in the Automated Clearing House (“ACH”). Title 31 CFR Part 210 (“Part 210”) governs the use of the ACH Network by Federal …
On Oct. 31, 2019, Nacha submitted a comment letter to the Federal Reserve Board of Governors in response to the recent notice and request for comment regarding the proposal to develop a new real-time payment and settlement service, called FedNow. In the …