ABA Requests Public Comment on Arbitration Study (5/22/15) ABA, in a joint comment letter requested the Bureau to solicit public comments on its arbitration study before initiating a rulemaking. The Bureau only issued one Request for Information in 2012, and never informed the public of the topics it had decided to study, the associations said. By soliciting public comments, the Bureau will gain substantive input regarding the study; expand its outreach to all interested parties; improve transparency; and, determine significant defects and shortcomings in the study.
NACHA Finalizes Same-Day ACH Settlement (5/20/15) NACHA, the electronic payments association, announced that its members voted to finalize a rule change that will accelerate ACH settlement, introducing two extra windows during weekdays – morning and afternoon – for credit transactions. The rule provides for fees so that receiving financial institutions can recover costs associated with handling same-day ACH. Contact Steve Kenneally for questions.