Where does your compliance fit?

In order to cut expenses, credit unions have merged jobs and duties to the point that Compliance may oversee, or be part of, other departments or business units.  This is akin to putting the kids in charge of the cookies.   In order to develop or provide services to members, the compliance function may take a back seat to the sales … Read More

Same-day ACH Rule (NACHA)

The NACHA rule change will enable ACH Originators that desire same-day processing the option to send same-day ACH transactions to accounts at any receiving financial institution (RDFI). The Rule includes a “Same-Day Fee” on each same-day ACH transaction so that RDFIs would recover, on average, their costs for enabling and supporting same-day ACH. The Rule will enable the option for … Read More