What does NACHA mean in Companies & Firms?

NACHA

Nacha, originally the National Automated Clearinghouse Association, manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data in the United States, and is an association for the payments industry. The ACH Network serves as a network for direct consumer, business, and government payments, and annually facilitates billions of payments such as Direct Deposit and Direct Payment. The ACH Network is governed by the Nacha Operating Rules, a set of rules that guide risk management.Nacha is a 501(c)(6) not-for-profit association incorporated in 1974. It represents more than 9,000 financial institutions by way of ten regional payments associations and direct membership. Nacha is not directly involved in the ACH transactions that flow to and from organizations and financial institutions, but develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.

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