Requests for Comment

WesPay advocates, on behalf of members, when rule changes are proposed by NACHA, the Federal Reserve Bank, and other rule-making bodies. Most often, Requests for Comment (RFC) or Requests for Information (RFI) are released, allowing input from participants prior to any changes being approved and implemented. This input ensures that proposed changes meet user needs, and protects the integrity of the networks and systems involved.

WesPay makes available materials about proposed changes accessible to members. Links to materials for open RFCs and RFIs are shown below. WesPay asks that when submitting responses and surveys by email, to please copy info@wespay.org. This will allow us to incorporate your thoughts when preparing our response on behalf of our membership.
Open Requests for Comment (RFC) or Request for Information (RFI) 

WesPay members, when signed in, can access review materials and all other available supplemental materials. WesPay may also offer a Town Hall webinar to review the proposed changes and provide an opportunity for member feedback and reaction.

Federal Reserve's RFC Regarding Real Time Gross Settlement (RTGS) and Liquidity Management

On October 3, 2018, the Federal Reserve System issues a Federal Register notice seeking public comment on their potential implementation of a Real time Gross Settlement Service (RTGS) and a Liquidity Management System, both of which would facilitate faster payments and operate 24x7x365. WesPay is preparing a response to this proposed action and we welcome your feedback to inform our commentary.

On November 8, 2018, WesPay hosted a Town Hall to help members better understand the Federal Reserve's Request for Comment and during the Town Hall, we asked a few survey questions. We are asking members for additional feedback on one question to provide insights to your intentions with Real Time Payments. A brief two-question survey is available through the link below "Additional Member Materials & Survey Question". We expect this will require less than one minute to complete. (This survey is now closed.)

Members interested in learning more about this topic are encouraged to use the link below to access additional materials, including a summary document explaining the Federal Reserve's proposed actions. If you participated in the Town Hall, the documents are in your Learning Center Dashboard. If you were unable to participate they are available through the 'additional materials' link below. Member sign in is required.

We encourage each member organization to review the documents and provide your own response directly to the Federal Reserve.

Federal Reserve's full notice on RFC

Additional Member Materials
Member sign in required.