New Savings Bond Guide

The Treasury has issued an updated version of The Guide to Cashing Savings Bonds. The Guide in provided in an interactive PDF format and covers authenticity and eligibility, customer entitlement, identify verification, required identification documents and payment. The Guide replaces all past versions of this document.

IOLTA and Other Similar Escrow Accounts Share Insurance

The NCUA’s rule codifies the insurance coverage pursuant to the Insurance Parity Act for IOLTAs and other accounts that satisfy the definition of “other similar escrow accounts.”  The Credit Union Share Insurance Fund Parity Act was passed in December 2014, and provides coverage to IOLTA and “other similar escrow accounts.”  Credit unions raised many questions about what qualifies as an … Read More

ACH Unauthorized Entry Fee

The Rule is intended to improve ACH Network quality by reducing the incidence of ACH debits that are returned as unauthorized. Under this Rule, an ODFI will pay a fee to the RDFI for each ACH debit that is returned as unauthorized (return reason codes R05 reserved, R07 authorization revoked by customer, R10 customer advises not authorized; ineligible, notice not … Read More