[Congressional Record (Bound Edition), Volume 162 (2016), Part 4]
[Extensions of Remarks]
[Page 5485]
[From the U.S. Government Publishing Office, www.gpo.gov]




DESIGNATING MAY 2016 AS DIRECT DEPOSIT AND DIRECT PAYMENT VIA ACH MONTH

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                        HON. GERALD E. CONNOLLY

                              of virginia

                    in the house of representatives

                         Friday, April 29, 2016

  Mr. CONNOLLY. Mr. Speaker, I rise to recognize May as the Direct 
Deposit and Direct Payment via Automated Clearing House (ACH) Month. 
NACHA--The Electronic Payments Association serves as the trustee of the 
ACH Network, which is supported by 12,000 financial institutions across 
the nation. Working together they enable payments such as direct 
deposit and direct payment via ACH. Annually, the ACH Network transfers 
24 billion Direct Deposits and Direct Payments, totaling more than $41 
trillion.
  Direct Deposit is the deposit of funds for payroll, employee expense 
reimbursement, government benefits, tax and other refunds, annuities 
and interest payments. Direct Payment transactions can include bill 
payments, person-to-person payments, business-to-business payments, and 
online and mobile purchases.
  Today, more than 80 percent of U.S. workers receive their regular pay 
using Direct Deposit via ACH, and consumers pay 800 million bills each 
month with Direct Payment via ACH. Direct Deposit and Direct Payment 
are an easy, safe, convenient, cost-effective and environmentally 
friendly way to make and receive payments. Use of Direct Deposit and 
Direct Payment enable consumers and businesses alike to save costs, 
save time and protect the environment by eliminating the time, hassle 
and expense of writing and cashing paper checks and making trips to the 
bank or credit union.
  Mr. Speaker, I ask that my colleagues join me in recognizing the 
month of May as Direct Deposit and Direct Payment via ACH Month, and I 
urge all members of the community to consider Direct Deposit and Direct 
Payment as a valuable option to make and receive payments.

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