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NACHA Government Relations Update – June 13, 2019

June 12, 2019 / Source: NACHA

NACHA Government Relations Update – June 13, 2019


Nacha Hosts Capitol Hill Day
On June 6, 2019 Nacha hosted its annual Capitol Hill Day in Washington D.C., facilitating a day-long series of meetings between members of Nacha’s Government Relations Advisory Group (GRAG) and elected officials, congressional staff members from the Senate Banking Committee and House Financial Services Committee. Nacha Members continued their outreach and education efforts regarding the ACH Network with particular emphasis on the value of private sector rulemaking, ACH Network consumer protections and NACHA’s role in governing the Network. Other discussion topics included an update on Same Day ACH, industry efforts to move payments faster/easier for end users, cannabis banking and RegTech. GRAG members also reminded staffers of the resources that Nacha and our Membership can provide for payments-related training and education. Collectively, the groups participated in a total of twenty meetings in addition to a breakfast meeting at The Capitol Hill Club.

CFPB Delays Compliance Date for Payday Lending Rule
The Consumer Financial Protection Bureau has officially delayed the August 19 compliance date for the underwriting provisions of the agency's 2017 payday lending rule to Nov. 19, 2020.

The bureau issued a final ruling Thursday formally delaying the compliance date to November 2020 alongside a proposed rulemaking to rescind portions of the rule's ability-to-repay provisions.

Legislative Calendars for 2019

House 2019 Calendar 
Senate 2019 Calendar