CUNA statement on Fed adoption of same-day ACH
WASHINGTON, DC (September 23, 2015) — Credit Union National Association (CUNA) chief advocacy officer Ryan Donovan released the following statement on the Federal Reserve Banks’ same-day automated clearing house (ACH) service:
“In comments to NACHA and the Federal Reserve, CUNA expressed concerns with the requirements that all receiving financial institutions have the ability to receive and post same-day ACH payments. While we support the goal of a faster payments system, we believe more could have been done to consider the implementation and other ongoing costs credit unions will face – particularly our smaller credit unions.”
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
