Payments

Letters and Testimonies

Letters to Congress

Title Recipient Date
116th Congress 10/15/20
U.S. House Task Force on Financial Technology 09/29/20
Senate Banking and House Financial Services Committees 08/28/19
House Financial Services Committee 07/16/19
Senate Banking Committee 07/15/19
U.S. House of Representatives 02/28/19

Testimony

Title Committee Presenter Date
HSFC 09/29/20
House Financial Services Committee's Task Force on Financial Technology Robert A. Steen 09/26/19
Senate Banking Committee Robert A. Steen 09/25/19

Payments News

Nacha launches program for returning unemployment benefits

Nacha launched an opt-in program to facilitate the return and recovery of potentially fraudulent unemployment benefits originally paid by ACH credits.

Purpose: The program is designed to help improve the recovery of funds that may have been disbursed to inappropriate parties.

Participants: The program is beginning with two originating depository financial institutions participating on behalf of eight states: Florida, Idaho, Kansas, Minnesota, Montana, Nebraska, Utah, and Wisconsin.

More: Receiving depository financial institutions do not need to opt in to return funds to the participating states.