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Payments Pulse

Payments Pulse
The Clearing House
Payments Pulse

Industry News & Resources

TCH Summary of CFPB EFT FAQs

Source: The Clearing House

Third Round EIP Statistics

Source: IRS

ACH Operating Rules Supplement #2, August 2021

Meaningful Modernization Guidelines Update

Source: Nacha
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Real-Time Payments Tracker (August 2021)

Source: Pymnts.com

Electronic Remittance Information: Making the Move Toward Modernization

Source: FedPaymentsImprovement.org

e-Invoice Exchange Framework

Source: Business Payments Coalition


We Get Questions...

Q and A
Q.)   I have a question regarding a return received as R07 (Authorization Revoked). Our Originator wants us to ask the RDFI for proof that the customer revoked authorization. Is this something we should request?
A.)   The R07 Return Reason Code can be used when the Receiver has provided the RDFI with a Written Statement of Unauthorized Debit (WSUD) in which the Receiver states that the authorization for the debit entry was revoked directly with the Originator under the terms and conditions of the authorization agreement. The RDFI is not required to produce proof that authorization was revoked; however, the ODFI can request a copy of the WSUD from the RDFI. Originators may not reinitiate entries returned for authorization revoked and should be prepared to contact the Receiver regarding those Entries. Additional information can be found in the 2021 Nacha Operating Rules, Article Three, Section 3.12 and on page OG 81 in the Guidelines Section of the 2021 Rule Book.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.

Limitations on ACH Warranty Claims Tool

A June 30th ACH Rule change limits the length of time in which a Receiving Depository Financial Institution (RDFI) is permitted to make a claim against an Originating Depository Financial Institution’s (ODFI’s) authorization warranty. The following links are provided to help RDFIs better understand the timeline of when they can return transactions or may file a Warranty Claim against the ODFI for certain transactions:

2020 ACH Rules

Center for Payments Survey

Payments Priorities in 2021 and Beyond

We know you split your time between payments innovation and regulatory compliance. This quick poll is designed to get a sense for what’s at the top of your list and the progress at your financial institution. The responses will help you see where you align with others and help the Center for Payments serve you better. Please take a few minutes to answer six questions.

Survey will close Tuesday, August 31st.

Take the Survey Now!

Payments Education

September Webinars

SEP
10

AAP / APRP Virtual Alliance Meeting

SEP
14

Considerations of Posting ACH Credit Entries Prior to Settlement Date

SEP
16

Wire Transfer Risk Considerations

Visit TCHPA’s Payments Education page and choose from more than 80 topics (live and on-demand)!

Member Support

Remember, when you need support from The Clearing House Payments Authority (TCHPA), you can reach our Member Services staff directly by calling 800-875-2242 and choosing option 3, or by emailing education.services@theclearinghouse.org. Although our staff is working remotely due to the COVID-19 pandemic, we’re still available to provide the support you need in a timely manner!

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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Winston-Salem, NC 27107
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