Fed Investigating After Vital ACH Payment System Hit a Delay (2)

The Federal Reserve is investigating the second significant disruption in 2019 of a payments service administered by the U.S. central bank.

Certain bank transactions were delayed after ACH -- which stands for the automated clearinghouse system -- experienced delays, but it is now up and running.

“The FedACH service, which processes transactions for commercial banks, is currently operating normally after experiencing delays in processing yesterday afternoon and early this morning,” Jean Tate, a spokeswoman at the Atlanta Fed, said in an e-mailed statement. “Some customers experienced delays in receiving confirmations of yesterday’s transactions. Federal Reserve technical staff continue to ...