Fed Announces Policy Change to Operating Circular 3
The Federal Reserve System Retail Payments Office announced a policy change to Operating Circular 3, effective July 15, 2008, that will hold sending banks liable for remotely-created payment orders that bypass NACHA rules and monitoring. For additional information, visit the Fed’s Web site at http://www.frbservices.org/.
NACHA Signs Fidelity National Information Services for Secure Vault Payments™ Offering
NACHA – The Electronic Payments Association announced today that Fidelity National Information Services, Inc. (FIS) will offer NACHA’s Secure Vault Payments solution to its clients.
Request For Comment
Request For Comment - NACHA Operating Rules on Stop Payment Issues - NACHA Rules and Regulation E (Comments due June 27, 2008)
Interoperability Between Domestic and International ACH Systems
The International Payments Framework Group (IPF) has announced the decision to go forward with the next phase of this project...
Effective Date of NACHA Rules Interpretation Extended to August 4, 2008
The effective date of NACHA’s Rules Interpretation (“Interpretation”) on the Proper Use of SEC Codes and the Aggregation of Transactions (see ACH Operations Bulletin, November 9, 2007, posted on http://www.nacha.org/ACH_Rules/ach_rules.htm ) is extended to August 4, 2008.
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