Tag Archives: payments system

NACHA Finalizes Same-Day ACH Settlement

NACHA, the electronic payments association, today announced that its members voted to finalize a rule change that will accelerate ACH settlement, introducing two extra windows during weekdays -- morning and afternoon -- for credit transactions. The rule provides for fees so that receiving financial institutions can recover costs associated with handling same-day ACH.

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Change Is Coming

It’s hard to keep up with new developments in payments, says former ABA Chairman Jeff Plagge. But banks need to stay on top of changes to serve their customers.

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Keating: Customers Need Equal Protection in Financial Marketplace

Customers deserve the same level of protection whether they do business with nonbank payment startups or banks, ABA President and CEO Frank Keating said in an American Banker op-ed today. Keating was responding to arguments by former Treasury Secretary Larry Summers that nonbanks are at a regulatory disadvantage. “Banks provide extensive protections to consumers on all of the products and ...

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CFPB Lawsuit Targets Payment Processors

The Consumer Financial Protection Bureau yesterday announced it had filed a lawsuit against several individuals and companies involved in what it said was a robo-calling phantom debt collection operation.

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