Nacha filed comments (can we link our letter) on March 10, 2023, in support of the Treasury Department’s efforts to implement a statutory mandate requiring the federal government to deliver non-tax payments by electronic funds transfer (EFT).

The comments are designed to help Treasury create a report on the future of money and payment systems that was requested in President Biden’s Digital Asset Executive Order on March 9, 2022.

Nacha and many Payment Associations provided comments on the notice of proposed rulemaking (the “Proposed Rule”) regarding the Federal Government Participation in the Automated Clearing House (“ACH”).

Nacha recently filed comments in response to a request related to “Healthcare Standards Development, Adoption and Implementation” from the National Committee on Vital Health and Statistics (NCVHS).

Nacha filed comments this week pertaining to the Board of Governors of the Federal Reserve System (the “Fed”) notice and request for comment.

Nacha Files Comment Letter Supporting ACH Payments

Nacha provided comments on the notice of proposed rulemaking (the “Proposed Rule”) regarding Federal Government participation in the Automated Clearing House (“ACH”).

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.

On July 22, 2019, U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), the Federal Reserve, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and National Credit Union Administration issued a joint statement with the intent to clarify how examinations related to the Bank Secrecy Act are specifically tailored for each bank’s individual risk profile.

On July 17, 2019, the Consumer Financial Protection Bureau (CFPB) released an updated advisory regarding scams targeting seniors.

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 “Final Rule”).