ABA Supports Proposed NACHA Rule Changes
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.
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When Can I Pull A Credit Report on an Existing Loan Customer?
…and other answers to your compliance questions in the May/June 2020 ABA Regulatory Policy and Compliance Inbox.
Fed: No Payments Service Disruptions Expected from Coronavirus
Federal Reserve Financial Services on Thursday issued a statement assuring its customers that it does not anticipate business disruptions as a result of the coronavirus pandemic.
Fed Finalizes Extended Hours to Facilitate Same-Day ACH
In a move supported by ABA, the Federal Reserve today finalized new operating hours and procedures for the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
Fed Survey: Non-Cash Payments Total $97.04T
More than 174 billion non-cash payments—those made with debit card, credit card, ACH and checks—were made in the U.S. in 2018, totaling $97.04 trillion, the Federal Reserve reported today in its triennial payments study.
ABA Supports Fed Proposal to Extend Hours to Facilitate Same-Day ACH
ABA last week submitted comments in support of the Federal Reserve’s recent proposal to modify the Federal Reserve Banks’ National Settlement Service and Fedwire Funds Service to accommodate a third same-day ACH processing and settlement window.
Fed Floats Extended Hours to Facilitate Same-Day ACH
The Federal Reserve today sought public comment on whether the Fed banks should extend the daily operating hours of the National Settlement Service and Fedwire Funds Service to facilitate adoption of a third same-day ACH processing and settlement window.
Fed Survey Notes Continued Growth in Noncash Payments
Noncash payments in the U.S. continued to see strong growth in the period between 2016 and 2017, according to an annual supplement to the Federal Reserve’s triennial payments study released today.
Fed Survey: Payment Fraud Remains Rare
Payment fraud remains rare, representing small fractions of 1 percent of the total number and the total value of payments, according to the Federal Reserve Payments Study released today.
Payments at the Speed of Now
New developments on the road to real-time payments.