Wrestling Payments

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Oct 2026

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About the show

Wrestling Payments is a podcast for professionals working at banks, credit unions, and FinTechs who are responsible for managing ACH and payment operations. In each episode, members of NEACH guide conversations to help professionals examine the challenges of modernizing payment operations. Ultimately, the stories uncovered through guest interviews and solo episodes will highlight industry trends and identify how organizations can build their payment operations for the future.

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October 18, 2026Episode 930 min

Wrestling with Financial News Mid-Oct 2026

Send us a text. (email us if you need a response) SUMMARY A new weekly format: ten stories across two weeks, with an eye on what each one means in New England. Stablecoin reserves as a deposit category you can compete for, a Treasury check ring that coached depositors by text, Fed supervision consolidating from twelve regions to five, and a $350 million reminder to point your risk assessment at where the money actually moves. EPISODE DESCRIPTION Something new: a weekly run through what is happening in the industry, with an eye on what it means in New England. This one is a double, two weeks of stories recorded back to back, ten stories in all. The through line across both weeks is that Washington is easing the top of the system while the pressure on community institutions stays where it always is, on execution. Stablecoin rules are landing and the largest banks are getting more room. Meanwhile the people making the decisions are changing, as Fed supervision consolidates from twelve reserve banks to five regions reporting to Washington, and the people knocking at the door are changing, as fintechs collect charters one piece at a time and lobby for the last one, Fed access. Part One: week ending October 2, 2026 Genius Act, the Fed's piece Coached at the counter Getting bigger just got cheaper Governance, not payments, sank these banks Time it, then prove it Part Two: week ending October 9, 2026 The Fed redraws the supervisory map A $350 million lesson in knowing your own business Do not wait on the ACH Contact Registry Fintechs are collecting the keys to the rail Reg O, and the piece worth commenting on DATES IN THE NEXT 60 DAYS | Oct 19 | Treasury Genius Act stablecoin issuer proposal, comments due | Oct 23 | Nacha comments on redefining the banking day | Nov 2 | OCC and FDIC unsafe and unsound practices rules take effect | Nov 4 | Fed and FDIC insider lending proposals, comments due | Nov 10 | Interagency third-party risk management guidance | Nov 23 | FDIC merger review and state bank parity proposals due | Nov 30 | Fed and Treasury stablecoin rules, comments due | Dec 1 | Fed stress capital buffer rule takes effect

October 8, 2026Episode 854 min

What's Good Enough? ACH Fraud Monitoring, Web Entries, and Risk Management

Send us a text. (email us if you need a response) Sean Carter, Caitlin Mullins-Smith, and Averee Jimenez dig into where ACH compliance breaks down in practice: origination-side fraud monitoring that nobody set up, web entries treated by label instead of by rule, mishandled written statements that turn into warranty breach exposure, and exposure limits that only look at credit risk . EPISODE DESCRIPTION Sean Carter, Caitlin Mullins-Smith, and Averee Jimenez join Joe to work through what institutions are getting wrong, and occasionally right, in ACH compliance and fraud monitoring. The question running under all of it: what does "good enough" actually mean in a live operation, as opposed to on paper. Caitlin's read is that Nacha's fraud monitoring rule has done something useful almost by accident. It forced institutions to write their monitoring down, and to get operations, fraud, BSA, and compliance talking to each other. Sean and Averee both see the same gap, though: plenty of institutions already monitored receiving-side activity and missed that the rule reaches origination too. And a vendor tool is not compliance. Somebody still has to know what is switched on, what is being watched, and what is not. The panel is candid about where the rules and the real world diverge, which makes this one useful for banks, credit unions, and their fintech partners. WHAT THE PANEL COVERS Web entries: A2A and P2P are both consumer-to-consumer under Nacha rules, so entry descriptions and internal labels are not a basis for treatment The usual web entry mistakes: missing payee names on statements, weak account validation, and treating microdeposits or prenotes as proof of ownership Where fintech partnerships break down, when a downstream statement rendering or processing partner does not know the rule detail Written statements: unsigned WASDs, items returned before the form is complete, and the wrong return reason code Why a mishandled written statement is more than a rule violation, and can open warranty breach exposure for downstream losses Return reason codes as a message to the ODFI, not just a field to populate The ODFI tension between giving originators useful guidance and overprescribing actions that get blamed back on the bank after a fraud event Exposure limits that account for total customer exposure rather than credit risk alone, and why prefunding is not a risk review Risk reviews that cover all treasury and payment products instead of ACH in isolation SIX THINGS TO CHECK WHEN YOU GET BACK TO YOUR DESK Review whether your fraud monitoring spans both receiving and origination activity Confirm that operations, fraud, BSA, and compliance are actually sharing what they see Test statement rendering for web entries, name fields and entry descriptions especially Audit written statement workflows for signatures, timing, and return reason codes Recheck exposure limits so they reflect total customer risk, not credit risk alone Make sure periodic reviews cover all treasury and payment products, not ACH alone

September 24, 2026Episode 842 min

1857 Called. It Wants Its Fraud Back

Send us a text. (email us if you need a response) EPISODE SUMMARY Joe Casali uses this solo episode to argue that the proposed Stop Payments Fraud Act of 2026 is a useful but limited step against check fraud. He compares today’s check fraud problem to the 1800s, when thousands of banks issued their own currencies and the US eventually solved the issue by standardizing and phasing out the old system. In this episode, Joe explains why he thinks the bill helps investigators but does not go far enough to fix the structural problem. He walks through the history, the current fraud environment, and the broader reforms he believes would actually move the needle. KEY TOPICS Joe introduces HR 9331, the Stop Payments Fraud Act of 2026, and notes its bipartisan 51 to 0 committee vote. Unusual in this political climate He connects today’s fraud challenges to the Expedited Funds Availability Act and Reg CC, which still force fast availability of deposited funds He compares modern check fraud to the 1800s “wildcat bank” era, when 2,500 institutions issued about 30,000 different currencies He highlights how counterfeit currency was once estimated at up to 50 percent of currency in circulation, showing that fraud can become embedded in a payment system He says he's been told that the US has never truly retired payment rails in modern times, but history proves it can phase out a dominant instrument when the system changes He notes current fraud indicators, including 63 percent of organizations reporting check fraud in 2024 and B2B check use still at 26 percent of payments He points to the federal government stopping distributing paper checks in 2025 and the Federal Reserve asking for feedback on the future of Fed check services He argues that real progress would include standardized check design and security features, better information sharing, stronger detection tools, and broader education He emphasizes that positive pay and other existing controls are helpful, but underused and often poorly communicated to business customers Timestamps (00:00) Opening the case against modern check fraud (01:02) What HR 9331 does and why it matters (02:01) Why fast funds availability creates fraud risk (03:30) Why this bill is only a partial fix (04:00) The US keeps adding payment systems without retiring old ones (05:57) The 1800s had 30,000 currencies and huge fraud exposure (08:05) How banks and merchants used fraud lists to manage bad currency (09:37) Comparing 1857 state bank notes to today’s check fraud (10:31) Security features, positive pay, and why “new” ideas are often old ideas (12:28) Wildcat banks, float, and how payment delays created profit (13:57) Fraud as a built-in feature of the system (15:24) Current check fraud stats and suspicious activity reports (17:05) The federal government stops issuing paper checks (18:04) Check 21 and the collapse from 44 processing locations to 1 (20:02) What the Stop Payments Fraud Act would actually change (22:02) What the bill does not change (23:17) How the National Currency Act unified US money (26:27) Five levers for a fuller anti-fraud strategy (28:43) Using shared fraud intelligence to stop rings earlier (30:30) Why education matters for business owners and account holders (32:48) Nietzsche’s role in advocacy, tools, training, and measurement (34:45) The realistic goal is reducing fraud, not eliminating it overnight (36:42) Why the 1860s currency crisis is the better historical comparison (38:06) Why political will for structural change is hard to sustain (40:26) Closing thoughts and call to share the episode Key framework Baby-step reform versus structural reform Joe’s core argument is that the bill improves enforcement, but a true fix would standardize, reduce, or eventually phase out vulnerable check processes The historical analogy The 1800s currency problem is used as a model for how a fragmented, fraud-prone payment system can be standardized over time

September 17, 2026Episode 730 min

Governance Before Technology: A Framework for Stablecoins and Tokenized Deposits with Guest David Dwumah

Send us a text. (email us if you need a response) Episode Summary In this episode of Wrestling Payments , host Joe Casali welcomes David Dwumah, Founder & CEO of OurFiin and faculty member at the WPI Business School, for a conversation about one of the most important questions facing the payments industry today: how do organizations innovate without sacrificing trust? As stablecoins, tokenized deposits, real-time payments, and other emerging technologies gain momentum, many organizations are focused on what technology can do. David argues that the more important question is whether institutions have the governance structures necessary to support innovation over the long term. Drawing on experience with the Federal Reserve Bank of Boston, where he spent five years in audit and risk management roles, including during the 2008 financial crisis, along with leadership roles in banking, fintech, and higher education, he explains why technology alone does not create sustainable payment systems. Central to the discussion is David's G-STEPP™ framework : Governance, Strategy, Technology, enabled by People and Processes. Through practical examples and historical lessons, David demonstrates why governance should guide strategy long before organizations begin evaluating technologies such as blockchain platforms, stablecoins, tokenized deposits, or real-time payment rails. Joe and David explore the evolution of payments infrastructure, the rise of tokenized financial systems, the growing importance of real-time payments, lessons from America's free banking era, and the role regulations will play in shaping future innovation. Throughout the conversation, one theme consistently emerges: Technology tells us what is possible. Governance determines what is sustainable. Trust determines what scales. For financial institutions evaluating what's next, this episode offers a practical framework for thinking beyond technology and building payment systems designed to endure. GUEST-AT-A-GLANCE Name: David Dwumah What he does: Founder & CEO of OurFiin; payments governance strategist, fintech innovator, and educator Company: OurFiin Additional Role: Faculty member at the WPI Business School, where he teaches courses focused on digital currencies, cryptocurrency, and financial markets Where to find him: David Dwumah on LinkedIn KEY INSIGHTS Governance Must Come Before Technology Organizations often become consumed with selecting technologies before clearly identifying the problem they are trying to solve. David argues that institutions should begin with governance and strategy, then evaluate technologies that support those objectives. Whether discussing stablecoins, tokenized deposits, blockchain platforms, or real-time payments, governance should come first. The G-STEPP™ Framework Creates a Durable Path Forward David's G-STEPP™ model provides a structured approach to innovation. Governance informs strategy. Strategy determines technology choices. Technology is enabled by people and processes. Following this sequence helps organizations build solutions that can scale and endure rather than simply chasing new technology trends. Payments Innovation Typically Complements Existing Rails History demonstrates that new payment methods rarely eliminate older ones. Checks, ACH, cards, real-time payments, and emerging tokenized systems often coexist. Innovation expands choices and capabilities rather than replacing every system that came before it. Customer Needs Should Drive Strategy Successful innovation starts with understanding customers. Institutions should focus not only on the needs customers articulate today, but also the needs they may not yet recognize. Technology adoption decisions should stem from customer value, not industry hype.

September 10, 2026Episode 732 min

True Crime Fighters: Why Your Ops Team Is on the Front Line

Send us a text. (email us if you need a response) Nanci McKenzie, MLS, JM, AAP, APRP, CAMS, payments expert in Capital One’s commercial bank treasury management group, joins Joe ahead of her session at NEACH’s End User Payments Fraud Symposium. First party fraud is the one where your account holder is not the victim. Nanci walks through how to tell it apart from authorized credit push fraud, what the ODFI and the RDFI each get to see, and the healthcare scheme that surprised even her. Her name for the ACH and wire operations staff carrying this load: true crime fighters. IN THIS EPISODE | 0:00 | Meet Nanci McKenzie, payments expert at Capital One | 1:34 | First party fraud vs. authorized credit push fraud, and why intent is the dividing line | 3:56 | Where money mule recruiting and first party fraud overlap | 5:08 | From friendly fraud to the no-receipt return: how the schemes evolved | 7:56 | Bust-out fraud on loans and credit lines | 11:07 | The March and June rules put fraud monitoring on the RDFI | 12:02 | What the ODFI sees, what the RDFI sees, and the behavior changes to watch | 15:37 | Synthetic ID, the 30 to 60 day window fraudsters wait out, and an $850,000 romance scam | 23:51 | Healthcare fraud: 455 charged, $6.5 billion, three schemes | 28:16 | Red flags an RDFI can actually look for, and how investigators are using AI on SARs | 30:06 | A shoutout to the ops teams Nanci calls the real crime fighters | 33:38 | Last word: review your fraud monitoring, and join Nanci at the symposium LINKS INCLUDED Guest: Nanci McKenzie on LinkedIn, https://www.linkedin.com/in/nancimckenzie/ Mentioned: NEACH End User Payments Fraud Symposium, September 22 and 23, virtual Show: More from NEACH, NEACH > Podcasts > Wrestling Payments

September 2, 2026Episode 623 min

One Employee, Five Branches: The Wire Room Reality

Send us a text. (email us if you need a response) One Employee, Five Branches: The Wire Room Reality SHORT SUMMARY NPG surveyed roughly 45 banks about how they actually run wires and found almost no consensus. Sean Carter walks through the numbers, including the 32 percent that train annually on their wire policy and the wire rooms covering more than five branches per employee. EPISODE DESCRIPTION Sean Carter, President and CEO of NEACH and NPG , brings back the findings from an NPG project reviewing one regional bank’s wire operation, plus a survey of roughly 45 community and regional institutions. He went in looking for the 80 percent answer, the thing most banks do the same way. He did not find one. In the same week, Sean had to send a wire himself as a business customer, which turned a set of survey results into a very concrete 45 minutes at a branch counter. IN THIS EPISODE | 0:00 | The NPG wire operations project and a 45-institution survey | 1:10 | A wire Sean had to send himself, and eight versions of the same question | 2:20 | Wire rooms, Monday peaks, and the staffing math | 3:30 | What the bank asked for: fewer exceptions, less delay, no added risk | 5:00 | Looking for an 80 percent answer and not finding one | 6:20 | Only 46 percent let consumers send wires digitally | 7:22 | Would being set up in advance have saved any time? | 9:32 | Why FedNow and RTP are not a like-for-like swap | 10:50 | 61 percent are unsure about moving volume to instant payments | 11:44 | Rules vs. regulator expectations on instant vetting | 13:37 | Reg E remittance rules, and the opening that leaves for Western Union | 14:58 | Everyone has a wire policy, 32 percent train on it annually | 16:20 | 35 percent turn new branch staff loose in under a month | 18:08 | More than five branches per wire employee | 21:52 | The Fedwire address change, now delayed | 23:16 | Irrevocability, 93 percent OFAC confidence, and the fear of hitting the button | 25:19 | Wrap: the survey results, and an open invitation to a wire room LINKS INCLUDED Mentioned: The full NPG wire survey results, with the questions included so listeners can self-answer and compare. Link to be added before publication. Show: More from NEACH, https://www.neach.org

August 16, 2026Episode 622 min

Fighting Back Against Credit Push Fraud: New ACH Rules for Originators

Send us a text. (email us if you need a response) Jordan Bennett, AAP, APRP (Senior Director, ACH Network Risk Management at Nacha) joins Joe ahead of NEACH's End User Fraud Symposium to break down the new ACH rules targeting social engineering fraud — and for the first time, they put real obligations on originators, not just financial institutions. Jordan Bennett Key topics Jordan Bennett introduces himself as Senior Director of ACH Network Risk Management and explains how his work now includes helping originators adapt to newer ACH rules. The symposium format is explained - one day for financial institutions, one day for end users and companies so both sides can talk through fraud from their own perspective. The new ACH rules are aimed at social engineering schemes, not just traditional unauthorized debit fraud that the industry has gotten much better at managing. Vendor impersonation is a major risk: a fraudster pretends to be a supplier, claims banking details changed, and tricks a company into sending money to the wrong account. Simple controls can block many scams, especially dual approval and callback procedures using a trusted internal contact list instead of the email sender’s phone number or reply contact. Urgency is a major red flag. If someone says a payment must go out right now and there is no way to verify it, Jordan says to slow down and treat it as suspicious. Real estate has been ahead of the curve for years because wire fraud during closings can derail the whole transaction, not just steal the funds. Account takeover and phone-based fraud are still active, including scams where someone impersonates a bank’s fraud department and asks for one-time codes or login credentials. If fraud is suspected, speed matters. Call the financial institution immediately, get the receiving bank involved, and move fast before the money disappears. Businesses face different protections than consumers, so companies need to understand their own responsibility and not assume consumer-style safeguards will apply. The same fraud prevention mindset should apply across payment methods, including ACH, wires, and checks. Check fraud comes up as a major industry issue, with both the Federal Reserve and payment organizations trying to reduce exposure. Jordan also mentions first party fraud as an upcoming topic, especially as banks and originators wrestle with customers disputing transactions they originally authorized. More from NEACH: neach.org

July 30, 2026Episode 536 min

Unlocking Data and Decision Making in Banking: A Conversation on AI-Driven Insights

Send us a text. (email us if you need a response) How can community banks compete with the largest financial institutions in an AI-driven world? In this episode of Wrestling Payments, host Joe Casali sits down with Sean Carter, President & CEO of NEACH, and Toli Amare, co-founder of Predium.ai, to discuss how artificial intelligence, decision intelligence, and data analytics are transforming banking. From fragmented data and outdated reporting processes to real-time scenario modeling and fraud detection, this conversation explores how financial institutions can leverage AI to make faster, smarter, and more confident decisions—without needing a team of data scientists. Whether you're a community banker, fintech leader, executive, or payments professional, you'll gain practical insights into how better data leads to better decisions, stronger profitability, and a competitive edge. In This Episode Why data quality is the foundation of effective AI The hidden costs of fragmented banking systems How Decision Intelligence helps executives make smarter business decisions Real-time scenario modeling for mergers, pricing, and strategic planning Using AI to identify profitable customers and products Fraud detection through continuous data monitoring Why community banks can compete with larger institutions using modern analytics The role of financial expertise alongside AI technology Practical examples of merger analysis, profitability modeling, and risk management The future of AI in banking and continuous decision optimization Key Takeaways ✔ Turn disconnected banking data into actionable insights ✔ Test strategic decisions before committing capital ✔ Improve profitability with customer and product-level analytics ✔ Detect operational risks and fraud in real time ✔ Make faster, more confident executive decisions using AI

May 27, 2026Episode 438 min

The Fintech Regulation Cage Match

Send us a text. (email us if you need a response) Understanding the Future of Fintech Regulation: The Cage Match BeginsIn this episode of Wrestling Payments, Joe Casali dives into the recent executive order that aims to overhaul fintech regulation. As the landscape shifts, understanding how regulation affects fintech firms, banking partnerships, and consumer protections becomes critical for industry participants and observers alike. In this episode: The core aspects of the May 19th executive order titled "Integrating Financial Technology Innovation into Regulatory Frameworks" The current fragmented regulatory environment and the gaps fintechs face How executive orders influence regulatory change and the potential scenarios that could unfold The implications of direct access to Federal Reserve accounts for non-banks The disparities across states in regulating fintechs and their consumer protections The potential impacts of the new framework on bank partnerships and the overall payment infrastructure Key questions for the industry moving forward: participant categories, due diligence, dispute resolution, and failure protocols Resources & Links: Federal Reserve, Executive Order on Financial Technology NACHA Operating Rules The Geniuses Act OCC Fintech Charter Initiatives PACE Act Overview White House Executive Order Connect with Joe Casali: LinkedIn Stay tuned for future episodes as the regulatory landscape continues to evolve, shaping the future of fintech and payments.

April 10, 2026Episode 325 min

FedNow Goes Global: How Proposed Reg J Changes Could Enable Cross-Border Instant Payments

Send us a text. (email us if you need a response) Episode Description The Federal Reserve just proposed changes to Regulation J that would allow FedNow participants to designate intermediary banks — opening the door for cross-border payments over FedNow for the first time. Joe Casali breaks down what the rule actually changes, how the domestic and international legs of a cross-border FedNow payment would work, and why this might be the moment ISO 20022 finally proves its value. He covers the competitive implications for Fedwire, the BSA/AML screening challenges of real-time international transactions within a 20-second timeout window, and what community banks and credit unions on FedNow should be thinking about right now. The 60-day comment period begins April 10, 2026. If your institution has a perspective on this proposed rulemaking, now is the time to make your voice heard. References: Federal Reserve Proposed Rulemaking — Docket No. R-1891, RIN 7100-AH23 | Regulation J, Subpart C — 12 CFR Part 210 | Submit comments at federalreserve.gov/apps/proposals | FedNow Operating Procedures v3.5 (February 2026)