Search
 

CU Tech Hub

The Clearing House Adds Seats for CUs, Releases Business Principles

If eligible, every federally-insured U.S. depository institution can directly participate in the RTP network.

The Clearing House is adding four new seats for credit unions and community banks to its RTP Business Committee and has released a set of business principles outlining how it will manage its real-time payments network, according to an announcement.

Among other things, the newly-released principles state that every federally-insured U.S. depository institution can directly participate in the RTP network in accordance with eligibility requirements. The Clearing House, which is based in New York, N.Y., also said RTP fees will stay flat for all participants regardless of size and will not include volume discounts or minimum volume requirements.

The core payments rail said representatives from credit unions, community banks and corporate end users urged it to share information about the rules during a series of one-on-one meetings and information sessions held over the past year across the country.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Tina Orem

 

Recommended Stories

FedNow, Fraud Later?

FedNow, Fraud Later?

Matt DeLauro |

While the allure of FedNow lies in its convenience and speed, it also presents challenges in terms of fraud management.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.