The move aligns the Fed's same-day ACH service with NACHA's rules. Trades express concern about costs to credit unions.
Nine organizations, including NAFCU and CUNA, call for new legislation from Congress.
Same-day ACH, recently approved by NACHA, could provide new data mining capabilities.
Amendment to NACHA operating rules ups the movement of funds between FIs to three times daily.
Rule would allow two new same-day settlement windows for three ACH network settlements each day.
Guidelines aim to reduce the incidence of ACH transactions that result in exceptions and returns.
ORLANDO, Fla. — Real-time payment settlement is already happening. Just not in the United States.
Electronic payments association will implement real-time availability in three phases.
The new, six-page paper includes business practices that can be used to create internal policies and procedures.
BALTIMORE — The NACHA session opened with dramatic video. Microsoft lawyers accompanied by U.S. marshals swooped into a characterless office building in Scranton, Pa., where they proceeded to seize computers that had been used to host giant botnet networks of zombie computers that–unbeknownst to their owners–were under the control of...