The directors of the National Automated Clearing House Association were surprised when they learned that a proposal designed to limit banks' risk could also have the unintended consequence of making the electronic payment system less efficient.

Last month, the board voted to adopt a resolution that would make payments final for clearing house credit transactions at the beginning of the business day, rather than at the end of the day, as it is currently handled.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.