Latest News

ACH Fraud Alert

Affecting ODFIs

Scams have become part of everyday life. Gullible consumers watch videos or hear infomercials that advertise “things that are too good to be true” and fall for it. Unfortunately, this has happened in the ACH Network. Hundreds of thousands of consumers have viewed social media and videos posted by scam artists resulting in significant fraudulent activity. However, ACH transactions can easily be tracked to the point of origin. ODFIs that allow these fraudulent entries are subject to Rules Enforcement actions from NACHA as well as reputational risk. Read more.

FedACH Same Day ACH Phase 2 Processing Schedule

Effective September 15, 2017

FedACH recently released the Same Day ACH Phase 2 Processing Schedule which is effective September 15, 2017. This schedule includes transmission deadline, target distribution and settlement schedule.

The U.S. Path to Faster Payments is Here

A faster way to pay and be paid is coming for consumers and businesses. Through unprecedented industry collaboration, the Faster Payments Task Force – a coalition of more than 300 diverse payments industry stakeholders – is charting the course for the modernization of the U.S. payments system for the benefit of all.

Updates to Reg CC

Southern Financial Exchange is proud to be able to offer you this recap of the recent changes to Regulation CC. However, this recap is offered for educational use only and additional details may exist within documentation released by the Federal Reserve.

Same Day ACH Debits Qualified Batch Reporting

Federal Reserve Financial Services

The Sept. 15, 2017, implementation of Same Day ACH Phase 2 is less than four months away and will provide for the same-day processing and settlement of qualified ACH debits in addition to ACH credits.

Same Day ACH Phase 2 Testing Begins June 13, 2017

Federal Reserve Financial Services

Southern Financial Exchange would like to provide you with information to support your institution’s testing efforts with FedACH® Services.

90% of Surveyed Banks Report Same Day ACH Origination Volume Is Higher Than Or As Anticipated

New survey results released this week by NACHA show that Same Day ACH usage is strong, with 80 percent of respondents expecting to see steady growth in 2017.