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January 17, 2020
How huge is the problem of Business Email Compromise? Amy K. Morris summed it up in three words.
“It is everywhere,” said Morris, Nacha Senior Director, ACH Network Rules. And that means financial institutions and businesses—large and small, public and private—need to be proactive to stop…
Risk Management
January 14, 2020
Want your tax refund fast? Use Direct Deposit. And while you’d normally think that’s what we’d say, this time it’s not. That’s coming from the Internal Revenue Service, which called Direct Deposit the “simple, safe and secure” way to get your tax refund.
In a recent web post, the IRS reminded…
ACH Network, Direct Deposit
January 13, 2020
HERNDON, Va., Jan. 13, 2020 – Nacha has been named one of the Best Places to Work in Virginia for a second consecutive year. The annual list was created by Virginia Business Magazine and Best Companies Group.
This statewide survey and awards program is designed to identify, recognize and…
January 9, 2020
EXECUTIVE SUMMARY
The March 19, 2021 effective date for the new Same Day ACH processing window is confirmed.
DISCUSSION
Nacha Rules Ballot #1-2018, Expanding Access to Same Day ACH, provided for the creation of a third, daily Same Day ACH processing window to be established by the…
ACH, ACH Network, ACH Operations, Operations Bulletin, Same Day ACH
January 8, 2020
OCC Appeals Fintech Charter
On Dec. 19, 2019, the Office of the Comptroller of the Currency appealed a decision by a federal judge that said the agency cannot issue bank charters to institutions that don’t take deposits. That means for now, financial technology firms cannot apply for the OCC’s…
Government Relations News
January 8, 2020
Editor’s Note: This is the first in a three-part series on an upcoming enhancement to Same Day ACH. On March 20, 2020, the dollar amount limit per payment increases from $25,000 to $100,000. Today we look at what Originators can do to prepare.
Same Day ACH for B2B is huge—and about to get even…
ACH, ACH Network, ACH Operations, Same Day ACH
January 8, 2020
Like 8-track tapes and white disco suits, Appendix 8 of the Nacha Operating Rules has faded into history. Many were using it as a guide for ACH audits, which Nacha acknowledged in the title of its recent webinar, “Curing the Appendicitis After Removing Appendix 8.” But as the webinar showed, there’…
NACHA Operating Rules
January 6, 2020
Nacha today announced its new Board Chairperson and Secretary/Treasurer as well as six new directors. The Nacha Board oversees the governance and administration of Nacha as the ACH Network administrator and industry trade association.
“We are pleased to welcome our new officers and directors,”…
NACHA Governance
January 6, 2020
You don’t have to look far to find proof that many Americans aren’t saving enough. And we’re not even talking about retirement. What if the car’s transmission dies? What if the refrigerator is toast?
For too many Americans, the respective answers are likely “take the bus” and “I don’t know…
Consumers, Direct Deposit
December 23, 2019
As the steward of the ACH Network, Nacha applauds the Federal Reserve Board of Governors’ approval today of the extension of the National Settlement Service operating hours, which is necessary for the expansion of Same Day ACH. With the issuance of the notice today by the Board of Governors, Nacha…
ACH, ACH Network, ACH Operations, Same Day ACH