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Payments Pulse - May 17th Edition

Payments Pulse
Payments Pulse, May 17, 2019
The Clearing House
Payments Pulse

Industry News & Resources

Key Findings from the 2019 Future of Payments Survey


TCH Releases Business Principles that Outline the Operation of the RTP® Network


FRB Request for Comment: Operating Hours for Fedwire and National Settlement Services

Source: Federal Reserve Bank

Progress Report: Strategies for Improving the U.S. Payment System

Source: Federal Reserve Bank


We Get Questions...

Q and A
Q.)  Does the consumer have more time to communicate unauthorized electronic transactions if they are traveling?
A.)  Yes, Regulation E allows for an extension of time limits due to extenuating circumstances. See Section 205.6, Liability of Consumer for Unauthorized Transfers, (b) Limitations on amount of liability, (4) Extension of time limits. If the consumer's delay in notifying the financial institution was due to extenuating circumstances, the institution shall extend the times specified above to a reasonable period. This could include hospitalization and traveling.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.

OCC Risk Management Guidance

Reporting to the Board of Directors

To oversee management's execution of the ACH program effectively, the board of directors should receive periodic reports that allow the board to determine whether ACH activities remain within board-established risk parameters and are achieving expected financial results. Such reports generally include:
  • Metrics and trend analyses on ACH volume, returns, operational losses, and transaction types, with explanations for variances from prior reports;
  • Metrics and trend analyses related to the composition of the bank's portfolio of originators and, as applicable, third-party senders;
  • The percentage of the deposit base that is linked to ACH origination activity;
  • A summary of return rates by originator, and, as applicable, third-party senders;
  • Unauthorized returns that exceed board-established thresholds;
  • Notices of potential and actual rules violations and fines by NACHA;
  • Financial reports on profitability of the ACH function as a cost center; and
  • Risk management reports, including a comparison of actual performance to approved risk parameters.
  • A summary of return rates by originator, and, as applicable, third-party senders;
Although this guidance is not new (dated 2013), the information is still current on the OCC website and we believe of value to our members.

Upcoming Education

JUNE
6

APRP Prep Review (No-Charge Webinar)

JUNE
14

AAP/APRP Alliance Meeting (No-Charge Workshop)

Lansing, MI
JUNE
18

Payments University - Syracuse (No-Charge Event)

Syracuse, NY
JUNE
20

BSA/AML Compliance Workshop (No-Charge Workshop)

Lansing, MI

Concepts 2019 (Conferences)


September 18-19 Philadelphia, PA ($199)

October 9-11 Grand Rapids, MI ($299)

On-Demand Training Library (No-Charge Recorded Webinars)

Real-Time Payments

What's in it for you?

RTP Town Hall

Join The Clearing House on Tuesday, June 11th for this half-day strategy session focused on the implementation of Real-time Payments (RTP®). Learn how RTP fits into the current faster payment trends in the United States and how this new network enhances your relationship with account holders, bringing opportunities and benefits to financial institutions of all sizes. Attendees will be provided with a framework around which to build their individual strategies for implementing RTP.
  • Buffalo, NY – June 11, 2019
  • Detroit, MI – June 13, 2019

Professionals in every trade have an association they rely on for industry expertise, support and resources. We're the Association for Payments People®

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United States

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