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Two of the nation's largest regional automated clearing houses will now be part of the same company with the merger of parent payments clearing houses based in New York and Chicago. The Clearing House in New York (formerly the New York Clearing House) and the Chicago Clearing House Association announced …
Read More »BofA Tops NACHA’s 50 Biggest Receivers
Bank of America Corp. took in far and away more ACH payments last year than any other receiving institution, according to statistics released today by the National Automated Clearing House Association (NACHA). The association's first annual ranking of receiving institutions shows BofA, headquartered in Charlotte, N.C., in first place for …
Read More »Rate of E-check Fraud by Phone Drops by 88%
The rate of unauthorized e-check transactions by telephone is down 88% over the last four quarters, reports the National Automated Clearing House Association. NACHA credits its ability to trace unauthorized phone payments to their source for the plunge in fraudulent e-check payments by phone to 0.15% of all third-quarter telephone …
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