Federal Stimulus Payments Town Hall

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WesPay has learned that the U.S. Treasury is expected to begin sending Direct Deposit entries for “Economic Impact Payments” (i.e., stimulus payments approved in the CARES Act) to consumers as early as the end of this week for settlement next week. New information is unfolding by the hour, and the WesPay team is arranging a briefing to provide members with information needed to prepare for this high volume of incoming payments. 

The volume of payments distributed for settlement next week is expected to be large; in fact, this first distribution early next week is expected to be the largest distribution of these funds. In addition, the entries are expected to be delivered to RDFIs days in advance of the settlement date. The WesPay team plans to share the information we have received and discuss considerations RDFIs should be evaluating in advance of receiving these entries. Immediate action may be required by your financial institution. 

We are planning an interactive session using voice, video and chat and will allow ample time for Q&A. 

John Curtis, AAP, NCP, APRP

SVP, Education & Training

John has over twenty years of experience in payments and has held positions in Treasury Management, Information Systems and Corporate Training and Development. John was Product Manager for Electronic Payments including ACH, EDI and Emerging Payment Technologies for fourteen years at Bank of the West. He has served as Chairman of WesPay’s Education Committee and as an Advisor to the WesPay Board of Directors. John served as the Chairman of the Board of Payments Resource One (PRO). He is a member of the American Bankers Association Task Force on Payments Law and has lectured on payments topics including legal issues, emerging technologies, compliance and risk management.

As Senior Vice President of Education and Training, John Curtis oversees the educational offerings for WesPay to ensure members have access to high quality, timely and relevant training that is critical for success in today’s ever changing payments landscape. Before coming to WesPay, John dedicated the previous fourteen years of his career to the payments arena as a Product Manager for Electronic Payments covering ACH, EDI and Emerging Payment Technologies. He holds the AAP, NCP and APRP accreditations.

Chris Selmi, AAP, CRCM

SVP, Risk & Regulatory Compliance

Chris is a recognized industry expert in managing payment-related regulatory impacts and risk mitigation. He consults to financial institutions to develop processes and programs to facilitate compliance with payment law and regulation and industry standards. Prior to joining WesPay, Chris spent sixteen years at Bank of America in the electronic payments group where his responsibilities included operations management, project support, and client and application testing and where he served as the compliance and regulatory control manager for both ACH and Wire payments.

Chris served as Bank of America’s representative on the WesPay Board and as the Chair of WesPay’s Rules Advisory Council and the Risk Management Advisory Council. He is a member of NACHA’s Risk Management Advisory Group.

Chris holds the designation of Accredited ACH Professional (AAP) and Certified Regulatory Compliance Manager (CRCM).

William Schoch

President & CEO

Bill is responsible for strategic initiatives to grow the association and provide maximum value to members and brings nearly thirty years of electronic payments experience to WesPay and has worked for leading payments organizations, including Visa International, Citibank, N.A., and NACHA – The Electronic Payments Association. He consults to financial institutions in the areas of payments strategy and process improvement. Bill has an extensive background in the development and implementation of products and services relating to ACH, wire transfer, purchasing card, debit card, P2P payments, and money transfer networks.

Prior to joining WesPay, Bill spent eleven years at Visa International serving in product leadership positions and was responsible for managing Visa’s global remittance service and initiatives to expand financial services to the unbanked in emerging markets. Bill was the global product manager for Visa’s debit products and was the founder of the Visa International Global Debit Forum. Prior to Visa, Bill spent eight years in the Global Cash Management division of Citibank, where he was responsible for strategic sales, product management and client on-boarding of domestic and cross-border payment solutions.

Bill currently serves on the Boards of WesPay, USA Technologies (NASDAQ: USAT) and WesPay Advisors.

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