Which of the Following Statements BEST Describes How the Automated

question 101

Multiple Choice

Which of the following statements BEST describes how the Automated Clearing House Network (ACH) maintains its integrity as a processor of electronic payments?

• A) The ACH network is an institution within the Federal Bank System and is regulated by strict government standards.
• B) The ACH network is a for-profit company and is regulated by its need to make a profit, which it can only do by strictly regulating itself.
• C) The ACH network is a financial institution and is thus regulated by its obligations to its investors.
• D) The ACH network is a not-for-profit association and is regulated by its independence from outside interests.
• E) The ACH network is a professional organization to which all financial institutions are obligated to contribute resources and is regulated by the interests of these institutions.

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Definitions:

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The federal department charged with coordinating and supervising all agencies and functions of the government relating directly to national security and the United States armed forces.