The American Bankers Association last week urged NACHA not to change rules around financial institutions offering early funds availability due to the lack of statistical evidence, despite anecdotal stories of the practice increasing liabilities.
In response to confusion about when consumers can access the latest round of economic impact payments, the American Bankers Association joined a coalition of nine financial trade groups today in issuing a statement confirming that the Internal Revenue Service chose March 17 for EIP funds to become available.
A total of 26.8 billion payments were made on the ACH Network in 2020—up 8.2% from a year prior—with a record of more than 2 billion new payments added, according to new figures released by NACHA today.
The American Bankers Association on Friday provided feedback to NACHA on its proposed plan to increase the dollar limit for same-day ACH transactions.
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.
After weeks of negotiations, congressional leaders tonight announced a deal for a $900 billion bipartisan coronavirus relief package.
As corporate treasurers pivot in response to the coronavirus pandemic, nearly half of them on net are planning to diversify their debt and capital structures, according to a new survey released today from TD Bank and Strategic Treasurer.
The Federal Reserve today said it would change the implementation date for modifications to the Federal Reserve Banks’ payment services to facilitate adoption of a third same-day ACH processing and settlement window and for corresponding changes to the Fed’s Policy on Payment System Risk.
In a letter to NACHA last week, ABA offered support for several proposed changes aimed at improving and simplifying the ACH user experience while maintaining system efficiency.
…and other answers to your compliance questions in the May/June 2020 ABA Regulatory Policy and Compliance Inbox.