BALLOT RESULTS

On Friday, June 12, 2009, the NACHA Voting Membership approved Ballots #5-09, 6-09, 7-09, 8-09 and 9-09, all of which consisted of Category C Minor Impact changes to the NACHA Operating Rules.

• Ballot # 5-09 was approved with 96.2 percent of the weighted votes cast. Thirty-three members voted in favor of the ballot, and 1 voted against.
• Ballot # 6-09 was approved with 98.9 percent of the weighted votes cast. Thirty-three members voted in favor of the ballot, and 1 voted against.
• Ballots # 7-09, 8-09 and 9-09 were approved with 100 percent of the weighted votes cast. Thirty-four members voted in favor of the ballots, and none voted against.
• Thank you for taking the time to review the rules and cast your vote.

Executive Summary

The Rules and Operations Committee is overseeing the reorganization and modification of the Rules.   NACHA is targeting October 1, 2009 to issue a Request for Comment to the members and the industry on the reorganized and rewritten Rules.

As part of the development of the rewritten Rules, the Rules & Operations Committee is requesting assistance from participants in reviewing sections of the NACHA Operating Rules as they are revised. These focus groups will meet via conference call to review and provide input to the Committee.  The number and composition of the focus groups will depend on responses received. 

Action Requested

Please respond by Friday, May 22, 2009 to Debbie Barr if you are interested in participating in a focus group to review re-organized sections of the NACHA ...

NACHA Issues Top 50 Lists

Largest ACH Originating and Receiving Financial Institutions

ORLANDO, Fla. – April 6, 2009 – NACHA – The Electronic Payments Association issued its list of the top 50 originating and receiving financial institutions of automated clearing house (ACH) payments for 2008 at its PAYMENTS 2009 conference today.

“Despite the prolonged economic downturn and unprecedented change within the industry, ACH payment volume grew by 1.2 billion in a very turbulent year,” said Janet O. Estep, president and chief executive officer of NACHA. “Financial institutions value the benefits that the ACH Network provides to them and to their customers through its safety, efficiency, and quality ─ attributes that carry even greater significance in difficult times.”

The financial institutions in th ...

NACHA Reports More than 18.2 Billion ACH Payments in 2008

ACH Transaction Volume Up by 1.2 Billion Payments

Despite Economic and Industry Pressures;
Consumer ACH Bill Payments Made Via Internet Near $1 Trillion

ORLANDO, Fla. – April 6, 2009 – The number of ACH payments in 2008 topped 18.2 billion, representing an increase of 1.2 billion over 2007, according to statistics released today by NACHA – The Electronic Payments Association at its PAYMENTS 2009 conference.

“Consumers, businesses, and government are continuing to embrace the safe, smart, and green attributes of ACH payments and choosing electronic over paper,” said Janet O. Estep, NACHA president and chief executive officer. “Despite the overall economy slowing in 2008, the ACH Network continues to see positive growth.”& ...

Executive Summary

This Members Memo provides the latest information regarding NACHA’s EBIDS pilot. In particular, RDFIs are encouraged to consider the multiple opportunities for expanding corporate receiver services, and increasing efficient utilization of the ACH Network.  A number of corporate billers have expressed interest in using EBIDS for eBill distribution, but the requirements to align budget and IT resources are extending readiness dates. While some interested billers may not be able to originate eBills through EBIDS at the moment, they can still participate in the pilot. ...

Experts Say to Split Your Direct Deposit to Save More Money
New Survey However Shows Access to Direct Deposit Split is Limited

HERNDON, Va. – February 18, 2009 – The America Saves campaign has a simple
message this year – split your Direct Deposit into your checking and savings account if
you want to save more money. The coalition celebrates “America Saves Week” from
Feb. 22 – March 1. The Consumer Federation of America (CFA) is the managing partner
for the campaign.

According to a new survey by the CFA, although 66% of all employees use Direct
Deposit, only 23% of all employees split their Direct Deposit into different accounts.
Only 59% of employees that have access to Direct Deposit and use it have the option to
split Direct Deposit. Of those with access to ...

ACH Transaction Volume Grew in 4th Quarter Despite Tough Economy,

NACHA Reports Strong Growth Reported for Internet Payments 
 

HERNDON, Va., February 11, 2009 — The number of ACH payments in the 4th quarter 2008 grew by 4.5 percent over the same period in 2007, topping 3.8 billion, according to statistics released by NACHA – The Electronic Payments Association.  Internet-initiated ACH payments (known as “WEB” entries) experienced robust growth, increasing 16.5 percent over 4th quarter 2007 volumes.  Strong growth also occurred with certain business-to-business payments (known as “CTX” entries) in which remittance information is exchanged electronically.  The number of these payments grew by 15 percent over 4th quarter 2007 levels.
 

“The continued growth o ...

Action Requested

Please submit nominations using this form no later than Friday, March 6, 2009 to the attention of Maribel Bondoc, Manager of Network Rules, NACHA, fax: (703) 561-1056 or e-mail: mbondoc@nacha.org.

 

Background

The Rules & Operations Committee has approved the formation of a Category B Rules Work Group to develop a rule amendment focusing on the extension of the return period for adjustment entries. All proposals in the Rule Making Process are categorized by the Committee according to their probable impact on ACH participants as follows: (1) Category A - Major Impact, (2) Category B - Moderate Impact, or (3) Category C - Minor Impact.

 
Please review the following ...

Action Required

Regional payments associations may use this information to communicate with their RDFI members that have account holders affected by this situation.  Direct financial institution members are requested to share this information internally with appropriate areas of their institutions.

 

GUIDANCE

NACHA has been in contact with an ODFI, its regional payments association, and regulators on a situation that may impact many RDFIs and their account holders.  The ODFI has ceased processing for an ACH processor that initiates ACH transactions on behalf of a number of other ACH processors, including payroll processors.  In some cases, employers’ accounts have been debited to fund payrolls, but payroll credits (Direct Deposit) to employees have not been released.

 
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