Hot Topics

ACH RISK Management Rules The clock is ticking. Are you prepared? Are you preparing? Phase One:   March 20, 2026 On this day, the rule applies to non-consumer Originators, ODFIs, Third-Party Senders; and Third-Party Service Providers with annual ACH origination volume of six million or greater in 2023. Phase Two: June 19, 2026 The rules go into effect for all other Non-Consumer Originators, Third-Party Senders and Third-Party Service Providers. What changes? NACHA currently r

by Kas Stewart, SVP & AAP Let’s talk cents!! We all know that no more pennies will be minted. So, what happens  now? There are billions of pennies still in circulation - one estimate is that there are 426 pennies for every person. There was a surge in demand for pennies, so there may be hoarding rather than circulation of pennies. Pennies are still considered legal tender, and The Federal Reserve is monitoring supplies weekly. The Federal Reserve is still accepting penny depo

by Kas Stewart, SVP & AAP ISO20022 has been implemented. This was so much more than a system upgrade, it is a fundamental change to how we all move money. Processes have changed, which means we all must make some adjustments, but soon this will become routine and comfortable.  NACHA will be adding five new rules in October 2025 through June of 2026 related to fraud risk. These apply to both originators, third party senders and receiving financial institutions at various dat

by Kas Stewart, SVP & AAP ACH NETWORK If your bank provides international wire services, this proposal will create an alternative. NACHA has issued a request for comments, which are due by May 30, 2025. The purpose of the change is to increase the usefulness of this transaction. In 2024, there were 121 million IAT debits and credits processed. In addition to the proposed changes to IATs, there are two items that pertain to all ACH payments. One would specifically define what

by Kas Stewart, SVP & AAP ISO20022 It is difficult for me after these many months of including ISO2022 as a hot topic to continue to think that it is hot, but it is!  I open every article with more information about ISO20022, and this article is no different.  Although the targeted implementation day of March 10, 2025, has been postponed until July 14, 2025, the transition to ISO20022 continues to move forward.  We are restricted from sharing the actual format with you, but T

by Kas Stewart, SVP & AAP The Federal Reserve has announced the retirement of Fedwire Funds Offline Services on December 31, 2024. If you do not have a Federal Reserve Account, this change will not affect you. If you are using this service as a contingency wire service for those occasions when a wire is misdirected to your Federal Reserve account, you will need to make alternate arrangements.   The Bankers Bank offers a Federal Reserve Service Provider arrangement that allows

by Kas Stewart, SVP & AAP There is something about starting a new year that creates the opportunity to start fresh, make changes, and explore new  and changing services. As you review 2023 and rethink 2024, please include The Bankers Bank  in that process. Reach out to your calling officer and ask for a review of our capabilities. We strive to keep community banks on the leading edge and have a full range of services to do just that. Are you fully utilizing iWeb?  Have you lo

At last report there were more than 100 participants enrolled in FedNow.  The Fed’s target for the end of the year is 300 participants.

FedNow is live! The Bankers Bank is proud that we were among the first to become fully certified by the Federal Reserve and we are ready to make this product available.

Malinda Rickel and I just returned from the annual NACHA conference. We have not attended for the last couple of years, so this one felt like it was bigger and better than any other. While the focus was certainly on Faster Payments, there were a variety of sessions to keep us busy! And you will be delighted to learn the ACH network is still alive and well and growing. In 2022, there were 30 billion ACH transactions totaling $76.7 trillion. Possibilities for ACH in the future

FedNow moves closer to implementation every day and The Bankers Bank continues to participate in testing and preparation. Here are some things we know: FedNow is a new and innovative product that could provide a competitive advantage and create a new revenue source for your financial institution. Your financial institution can participate directly with the Federal Reserve or through your existing correspondent relationship with The Bankers Bank. FedNow is a good funds model w

Thank you to everyone who took the time to join The Bankers Bank on our 2022 Road Show Tour! It was great to see and visit with those of you who were able to attend. If you could not be with us in person, we missed you. We shared a lot of information both on iWeb and some industry topics. If you would like to review what you heard or see what we discussed, the slide show from those events has now been  posted on our website . A white paper on Multifactor Authentication can al

Don’t forget to complete the Federal Reserve Security and Resiliency Assurance program for 2022. This is an annual requirement that must be completed by December 31. However, you may complete and submit your report at any time during the calendar year. Material should have been provided to your End User Authorized Contact (EUAC) in March. If you need assistance, the Federal Reserve has created a Resource Center that includes access to previous webinar recordings, Training Opp