The Federal Reserve Banks (FRBs) and The Clearing House Payments Company (TCH) have announced plans to implement enhanced message formats to accommodate both cover payments and payments containing business remittance information on their respective U.S. dollar wire transfer systems, the Fedwire® Funds Service and CHIPS.   » Continue Reading

We have received news of the following recent management changes:

• The Clearing House Payments Company today announced that Senior Vice President Susan Long will manage both paper check and electronic check clearing services on Oct. 1 and that Senior Vice President Jerry Milano, head of SVPCO Check Services, will retire on March 31, 2008. Long, who joined The Clearing House 14 years ago, had been running SVPCO’s electronic check services.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company, has announced that The Bank of New York is now participating in the SVPCO Image Payments Network.   » Continue Reading

The Clearing House and BITS have announced that member banks of BITS Payments Strategy Steering Committee (PSSC) have moved their payments initiatives to The Clearing House’s Strategic forum to create a single bank-driven focal point for payments issues for the financial services industry.   » Continue Reading

Endpoint Exchange LLC, a Metavante company, and SVPCO – Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company LLC, have announced that member financial institutions of both systems can now exchange check data and images.   » Continue Reading