Last year, The Clearing House (TCH) and ECCHO agreed to pursue a strategic opportunity to transfer the business and operations of ECCHO to TCH. That transaction was completed at the end of 2017. ECCHO will be one of the services under the TCH umbrella.
Board of Governors of the Federal Reserve System (Board), the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, the Agencies) are issuing this guidance to ensure that financial institutions are aware of the Agencies’ supervisory expectations regarding customer account deposit reconciliation practices.
From the Federal Trade Commission: 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose
ECCHO was created in 1990 to establish and promote operating standards for electronic check presentment. Twenty-three years later, just about all checks are imaged and collected electronically, and ECCHO’s role has grown to include industry advocacy and education.