In the News

• Consumer, Banking Groups to Congress: Exempt Economic Impact Payments from Garnishment

  April 21, 2020

  In a letter to congressional leadership today, consumer and banking industry organizations urged lawmakers to clarify at the earliest possible opportunity that economic impact payments issued by the federal government in response to the coronavirus pandemic should be exempt from otherwise legally binding garnishment orders.

• Congress Should Exempt Stimulus Payments from Court-Ordered Garnishments

  April 15, 2020

  Leading financial services trade associations today wrote Congressional leadership requesting that Congress clarify that the CARES Act economic impact payments (also known as stimulus payments) are treated as benefits subject to the federal exemption from garnishment.

• Financial Industry to Give Consumers More Control Over Their Data

  February 20, 2020

  Created by Fidelity, Akoya℠ Becomes an Independent Company; operates a network for the entire industry. Jointly owned by 11 banks, Fidelity and The Clearing House, Akoya℠ to accelerate the movement toward more secure APIs.

• MUFG Union Bank Launches Real-Time Payments for Clients on the RTP® Network

  January 23, 2020

  Customers with a deposit account can now receive funds in real time.

• TCH Raises RTP® Network Transaction Limit to $100,000

  January 23, 2020

  As the volume of transactions and number of users continues to grow on the RTP® network, TCH is increasing the transaction limit to meet the needs of depository institutions and their customers.

• Corporate America Credit Union Becomes Funding Agent for the RTP® Network

  December 03, 2019

  As a Funding Agent for the RTP® network, CACU will allow member credit unions to efficiently manage their liquidity on the network at a lower cost.

• New Research Reveals Most Consumers Unaware of Financial Data Collection Practices

  November 19, 2019

  Research reveals a continued disconnect in perceived and actual awareness of financial data collection practices and consumer support for more transparency, education, and control.

• Wells Fargo Launches Ability to Send Payments on the RTP® Network

  November 19, 2019

  Wells Fargo announced today that its corporate customers can now send real-time payments through the RTP^® network via an application programming interface (API), enabling the immediate movement of money and expanding the bank’s faster payments offerings.

• HSBC Bank USA Now Offers Business Clients the Ability to Send and Receive Payments in Real Time

  November 18, 2019

  HSBC Bank USA, N.A. (HSBC) announced today the launch of real-time payments capabilities on the RTP^® network that allow business and institutional clients of all sizes to pay and be paid immediately with enhanced convenience and security.

• The Clearing House Releases Model Agreement to Help Facilitate Safe Sharing of Financial Data

  November 12, 2019

  Today, The Clearing House (TCH) is releasing a Model Agreement to help financial institutions and fintech companies establish legal terms for the sharing of bank-held consumer data.