NEWS on Payments

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ICBA, Groups Remind Congress of Direct Deposit Benefits

Aug 28, 2019
ICBA and other financial services organizations sent letters to key members of Congress reminding them about the success of direct deposit for the U.S. workforce.

Recent news coverage of the Fed's plan to build an instant payments system has included incorrect statements about direct deposit delays, so ICBA and other groups are reminding Congress that direct deposit through the ACH network is a reliable way for employees to get paid.

The letter follows Nacha's launch this week of a social media campaign to correct myths and misunderstandings that have emerged about direct deposit.