NACHA – the US electronic payments association – has been asked by the AFP to delay its rule change permitting corporate check conversion to automated clearing house (ACH) debits. The AFP said that most of its members oppose having their checks converted to ACH debits. As a result, they need time to learn how to opt out of conversion and place ACH debit blocks or filters on their disbursement accounts. In a January survey, 79 percent of corporate treasury and finance professionals stated that their companies would not permit its checks to be converted to ACH debits. The AFP asserted that conversion of corporate checks to ACH debits would disrupt corporate cash management practices and controls, and increase exposure to fraud. ‘Payers – not payees – should decide how payments should be made and authorize conversion to ACH debits if they choose,’ it stated.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.