CFPB Speaks: In-Person Debt Collection
Topics: Payments Compliance
In-person debt collection raises the collector’s risk of being in violation of relevant sections of financial law, including the Dodd-Frank Act and the Fair Debt Collection Practices Act. The risk…
ISO 20022 Addresses Gaps for International ACH Transactions, Which Are Not Eligible for Same-day ACH
Topics: Payments Compliance
Back in 2013, the U.S. Federal Reserve issued a “Public Consultation Paper” to address recent technical innovations in the payments industry and to seek input on gaps that had developed…
ODFIs – Early Planning Ensures Accuracy on ACH “Same Day” Start Day
Topics: Merchant Payment Processing
In fewer than nine months, the first phase of “same-day” automated clearing house (ACH) transactions launches. By the time that the entire rule is operational (Phase Three begins March 16,…
Responding to New Same Day ACH Payment Processing Rules
Topics: Merchant Payment Processing
The incoming “same-day” transaction rule is intended to give businesses and consumers greater flexibility to manage their financial transactions, especially in those circumstances where late payment fees can be exorbitant….
