The National Clearing House Association is expected to announce today that it has signed a sponsorship agreement with the Electronic Check Clearing House Organization, which provides rules for check image exchange.
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The move is expected to make image clearing easier between small banks, which are Eccho's primary customers, and big banks - most of which use services from SVPCO, a unit of Clearing House Payments Co. LLC of New York.
By standardizing a single set of rules, banks save the cost of customizing their check exchanges with different trading partners. SVPCO has adopted Eccho rules, which define how liability is assigned throughout the transaction.
