Magazine article American Banker

Nacha Conference Draws Record Crowd

Magazine article American Banker

Nacha Conference Draws Record Crowd

Article excerpt

ORLANDO -- A record number of attendees were greeted with a handful of announcements at the annual National Automated Clearing House Association conference here.

The conference, which ended Wednesday, marks the 20th anniversary of the National Automated Clearing House, an association of clearing house groups that markets the automated clearing house payment system and sets rules for its operation.

Nacha officials said that more than 1,100 people showed up for this year's conference, more than 100 more attendees than the previous record.

Among the announcements at the show, the New York Automated Clearing House said that CoreStates Financial Corp. of Philadelphia, the 22nd largest originator of automated clearing house transactions last year, has joined the regional association. In a press statement, Al Amorosi, CoreStates' operations officer, said the membership will let the bank gain "operating efficiencies" by being able to transmit automated clearing house transactions directly to the New York ACH, instead of using an intermediary.

A New York ACH official said that CoreStates will not initially participate in its net settlement system for calculating the net debit and net credit positions of bank participants because the Federal Reserve does not allow the New York ACH to provide net settlement outside of the Fed district, and is optimistic that the approval will be granted and that CoreStates will participate.

Association Changes Its Name

Another automated clearing house group announced a name change. …

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