RE-OCURRING FINDING: RTP Disclosures 🤔 Problem RTP Network Participants are unsure of what to disclose to account holders regarding no foreign RTP payments. 📖 Rule - Operating Rule E. Prohibited Transactions. 2. Foreign Payments. “Foreig...
Stop the Disclaimer: Why Financial Institutions Can’t Opt Out of Fraud Responsibility for Business Accounts We often find through NEACH Payments Group (NPG) Audits, Risk Assessments, and other Consulting services that institutions disclose in account agreements for business clients that the institution shal...
Corporate ACH Origination: A Strategic Opportunity for Financial Institutions In today’s digital-first economy, businesses demand payment solutions that are fast, reliable, and cost-effective. Yet, many financial institutions have yet to fully embrace one of the most powerful t...
NYDFS issues $40MM for BSA/AML Failures Recently, the New York State Department of Financial Services (NYSDFS) issued a penalty of $40 million to Block, Inc. This fintech, formerly known as Square, is licensed in the state of New York to op...
5 Signs Your Payment Operations Need an Upgrade In today’s fast-paced financial landscape, efficient payment operations are critical for customer satisfaction, regulatory compliance, and business growth. Yet many organizations continue to rely on o...
Payroll Processors & Money Transmitter Licenses: Could Better ACH Risk Management Have Steered Them Clear of Regulator Overreach? Regulators are backing down from the controversial orders they have been handing out left and right to financial institutions. However, it seems that some state regulatory bodies are now creating cont...
Who Wins Without Open Banking? Spoiler: It’s Not You The CFPB is backing down fromits Open Banking Rule and it’s honestly a curse disguised as a blessing to the industry. The blessing is that it puts the power back into the hands of banks and credit uni...
Positive Pay Market Survey Infographic Executive Summary While check writing continues to decrease—Federal Reserve check collection has declined 82% over the past 30 years — check fraud continues to rise. In fact, experts believe check fra...
Navigating Audit and Risk Assessment Findings Quarterly Town Hall Recording Watch NEACH Payments Group’s Quarterly Town Hall: Navigating Audit and Risk Assessment Findings . Our team shares valuable insights and actionable strategies for addressi...
Top 10 ACH Audit Findings and How to Address Them Findings Recommendations As ACH Network participants, it's crucial to stay compliant with Nacha Operating Rules. NEACH Payments Group has analyzed our second quarter 2024 audit findings and identified...
Strengthening Your ACH Risk Management Key Insights from Q2 Assessments As financial institutions and Third-Party Senders continue to navigate the complex landscape of ACH transactions, it's crucial to maintain robust risk management pract...
ACH Audit Findings (Q1 2024) Introduction Are you up to date on your ACH compliance requirements? Our recent analysis of first-quarter audits reveals some common areas where organizations are falling short. Reach out to us today ...