Advocating. Educating. Facilitating. Protecting our Members with ECCHO Rules. We Work For Our Members.
Note: Effective January 1, 2018, ECCHO was acquired by The Clearing House Payments Company L.L.C. ECCHO is now a service of The Clearing House.
ECCHO Rules provide value to your financial institution…
No law exists for the exchange of check images. Current law only governs paper checks.
Exchanging images without rules is like making loans without collateral. As long as payments are made according to plan then collateral is not needed. But payment exceptions do arise. ECCHO Rules provide an agreed, legal way to present items and handle exceptions.
ECCHO facilitates several ad hoc committees among its members to discuss issues and create solutions. Through the Reg CC, Fraud, Legal, and Returns & Adjustments working groups, ECCHO creates new Rules, suggested procedures, and whitepapers.
How Does ECCHO Advocate for My Financial Institution?
ECCHO was created twenty-eight years ago to facilitate the electronification of the check, was at the forefront of the Check 21 effort and worked hard to achieve full-scale image exchange. When the Fed requested public comment on amendments to Reg CC, ECCHO worked with its counsel to map the proposed changes on a 50+ page spreadsheet, facilitated a subcommittee to walk through each change and get members’ feedback, and sent a detailed response to the Fed. ECCHO created a webinar and briefing paper to explain proposed changes in plain language.
ECCHO responded to the unprecedented proposal of the FTC to ban RCCs, which would stifle legitimate payments based on an incorrect perception of the level of fraud. ECCHO responded to the Fed’s Consultation Paper which recommends creating a new “Faster Payments” system while not supporting any improvements to the check payment system. ECCHO continually monitors the environment for opportunities and liaises with industry groups.
ECCHO works to create the best legal environment for check & address image exchange issues.
Fair exchanges with warranties, Rule 8, Rule 9, helpful commentary. Coming Soon: Canadian exchange rules
NCP Certification, Check training ECCHOInsights webinars.
On-demand ECCHOEd training
Connect with 3,000 exchange partners. Access adjustments partners through contact list
On legislative issues like Reg CC proposal, proposed ban on RCC’s, UCC issues, standards.