2007 Fed Same Day ACH 
PYMNTS
OCTOBER 8, 2018
It may have started in 2007 when the U.K. the debate has gained its own head of steam over the last five years — ever since the Fed formed its Faster Payments Task Force and convened 300 companies and 500 people to devise a framework to make payments faster in the U.S. ACH rails now settle same-day, three times a day.
PYMNTS
MARCH 28, 2016
But, don’t look for the recommendation to kill checks to emerge from the report that the 500+ person Fed Task Force that’s examining the path forward for the U.S. The mandatory check-at-par system forced on banks by the Fed sets up a bunch of perverse incentives for both sides. The Fed says that 19 percent of all checks in the U.S.
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