NACHA invites comments on proposed rules to use the ACH Network for a new, ubiquitous capability to exchange non-monetary messages between financial institutions (previously referred to in a 2017 Request for Information as "DFI to DFI Messaging").
Southern Financial Exchange's Risk Management Portal resource page has valuable information available to SFE members. Check here on a regular basis to continue to learn more. Most recently updated on November 8, 2017.
Southern Financial Exchange's Same Day ACH resource page has a growing list of pdf's and other articles available to SFE members. Check here to be updated on a regular basis. Most recently updated on January 26, 2018.
IRS/FBI-Themed Ransomware Phishing Attack
NACHA has become aware that some financial institutions and their service providers are allowing consumers to originate debits other consumers' accounts (C2C) debits. Although the origination of C2C debits is not expressly prohibited by NACHA Operating Rules, NACHA strongly discourages ODFIs from facilitating these payments unless the ODFI is in full compliance with all rules that apply to the origination of all ACH debits.
Southern Financial Exchange is proud to be able to offer you this recap of the recent changes to Regulation CC. However, this recap is offered for educational use only and additional details may exist within documentation released by the Federal Reserve.