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The Clearing House

The Clearing House Payments Company owns and operates core payment system infrastructure in the United States and is currently working to modernize that infrastructure by building a new, ubiquitous, real-time payment system.  It is dedicated to advocating for a safe, reliable, and efficient bank-owned payment system. 

Recent Highlights

TCH Releases Guiding Principles for Sanctions Issues Related to Shipping and Financial Products

Feb 10, 2017

Guiding Principles for Sanctions Issues Related to Shipping and Financial Products is the product of the BAFT/TCH Sanctions Working Group, which is comprised of sanctions experts in the world’s leading U.S. and international financial institutions regulated in the United States.  The principles seek to assist financial institutions by distinguishing between types of shipment-related transactions that should and should not be considered to be prohibited by OFAC regulations due to their nexus to sanctioned countries or ports.  The principles also recommend practical compliance practices for financial institutions that deal with such issues.

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TCH Submits Comment Letter on FMI Cyber Resilience Proposal

Feb 23, 2016

The Clearing House (TCH) comment letter to the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) responds to their Guidance on Cyber Resilience for Financial Market Infrastructures consultative report.

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TCH Comments on Proposed ORSOM Supervisory Rating System

Jan 21, 2016

The Clearing House (TCH) submitted a comment letter to the Fed that among other things, expressed concern that the proposal would create new obligations for FMIs that go beyond existing regulatory obligations, and that that the flexibility the Board built into the proposed rating system would permit excessive supervisory discretion.

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Ensuring Consistent Consumer Data Protection

Sep 15, 2015

During the past few years, the nontraditional payment provider market has experienced explosive growth. However, the legal and regulatory protections designed to protect consumers’ financial data may not cover all new payment products and could place personal data at risk.

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For The Record: Reinventing Payments

Sep 15, 2015

TCH CEO Jim Aramanda calls on the industry to deliver a next generation, real-time payments platform that will serve as a foundation for payments innovation for many years to come.

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For The Record

Jun 5, 2015

If there is a bright side to the Target, Home Depot, Anthem, and Sony data breaches, it is that virtually everyone is aware of the dangers associated with cyberattacks.

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TCH Files Comment Letter to NACHA Supporting Same-Day RFC

Feb 6, 2015

In a letter to NACHA TCH suggested improvements to the proposal including adopting a different indicator in the Batch Header Record to identify transactions for same day processing and settlement, rather than relying on the Effective Entry Date, and encouraged NACHA to consider leveraging additional evening settlement windows as a future enhancement to the same day ACH capabilities  in light of the expanded operating hours of the Federal Reserve Banks’ National Net Settlement Service.

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TCH Comments on Proposed BitLicense Regulations

Oct 20, 2014

The Clearing House Association comments to the New York Department of Financial Services on its proposed “BitLicense Regulations” for virtual currency businesses states that applying BitLicense Regulations on traditional banking entities would add duplicative regulatory burdens with no additional benefits to the public.

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Mobile Payments: Ready for Primetime

Sep 15, 2014

Recent developments like Apple Pay indicate that consumers and merchants are ready to shift from plastic to mobile. However, adoption at scale will necessitate that a mobile wallet solution be able to balance customer and merchant value propositions and simultaneously gain support from incumbent stakeholders. By focusing their investments on long-term safety and soundness solutions, banks will play an instrumental role in ensuring mobile payments adoption.

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TCH Comments on CFPB Proposal to Revise the Remittance Transfer Rule

Jun 6, 2014

The Clearing House Association letter strongly supports the Consumer Financial Protection Bureau's proposal to extend the temporary exception that permits insured institutions to disclose, under certain circumstances, estimates rather than exact amounts of exchange rates and the amount of covered third-party fees.

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