Regulation of Automated Clearing House and Payments Transactions
Summary
This practice note provides an overview of the regulatory framework governing automated clearing house (ACH) transactions, the structure of ACH transactions, and discusses the laws, rules, and guidelines governing such transactions. ACH transactions facilitate the exchange of funds among financial institutions and their customers. Payments occurring through cellular devices, such as Apple Pay, debit cards, or other credit card transactions generally rely on existing ACH networks to transfer funds.