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News Now

Washington
CUNA, NACHA seek comment on payment, account validation issues
WASHINGTON (1/31/13)--The Credit Union National Association and the Electronic Payments Association (NACHA) are working together to collect comment on two key issues: credit union online bill payment and automated clearinghouse (ACH) network needs, and electronic account validation from a consumer or business.

To gather information on online bill payment and ACH network issues, CUNA has asked credit unions to answer the following questions:

  • Is your credit union a "biller" (e.g., provides consumer loan, credit card, mortgage loan, or other consumer product)?
  • If yes, is your credit union receiving checks from online banking/bill payment providers for your consumer bill payments?
  • If yes, is your credit union interested in learning more about how to receive ACH credit payments instead of checks for these bill payments?
CUNA has asked credit unions to send their responses to CUNA Regulatory Counsel Dennis Tsang at dtsang@cuna.com . Responses will be accepted until Feb. 4.

NACHA is accepting public comment through an account validation industry survey. The survey requests feedback on the industry's current use of account validation services as well as input on requirements when considering account validation services for ACH payments.

Survey responses are confidential and anonymous and findings will only be shared in aggregate. The survey results will help inform NACHA's ongoing evaluation of potential ACH Network enhancements.

To access the survey, use the resource link. NACHA will accept survey responses until Feb. 12.
Other Resources

NACHA Survey
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