Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA Seeks Comment on Proposed Fed Payment System Changes
WASHINGTON (12/30/13)--Credit unions can now comment on how the Federal Reserve's proposed changes to its Payment System Risk Policy, and related changes to Regulation J, could impact their business practices in a new Credit Union National Association regulatory call to action.

The proposed Fed changes would move the posting of automated clearinghouse (ACH) debits processed by the Fed banks' FedACH service overnight to 8:30 a.m. (ET) from 11 a.m. (ET) to align with the posting of ACH credits. The proposal would also move the posting time for receiving most commercial check credits for deposits and debits for presentments to 8:30 a.m. (ET) and establish two other posting times of 1 p.m. (ET) and 5:30 p.m. (ET), and make other related changes.

CUNA is seeking details on how these proposed changes would impact credit union operations, payments processing and account management with the Fed banks.

CUNA will accept comment until Jan. 13. To comment, use the resource link.
RSS print
News Now LiveWire
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
39 minutes ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
46 minutes ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
2 hours ago
#Creditunions in PA and NJ hosted retirement fairs this week @PCUA and @NJCUL report.
3 hours ago