NACHA Operating Rules: Recent and Upcoming Changes - Are You in Compliance?

         National Automated Clearinghouse Association (NACHA) is charged with overseeing the Automated Clearing House (ACH) system. NACHA governs the exchange of ACH payments and define roles and responsibilities of financial institutions and other participants(small businesses) in ACH network. Each company (the Company or Originator) originating ACH entries must comply with the Operating Rules and Guidelines (the Rules) of the NACHA, the rule making body governing the ACH Network.

         NACHA updates these Rules on an annual basis. NACHA rules violations carry fines. If these fines are levied against the financial institution they may be passed back to the corporate originator depending on the specifics of the case and the details of their contract with the financial institution. The fines are levied by the U.S. government and funds collected are the property of the government, not the financial institution.

         Being in compliance with the NACHA Operating Rules is an important responsibility and requirement for financial institutions and companies, including third parties. Attending this webinar will help keep participants in the network on top of the changes and how to ensure they are prepared, know what a rule change means to them, and will be in compliance at the right time.

• Details of the third-party sender registration process - just approved!
• List of unauthorized entries that pose a charge to the ODFI
• Describe the impact of the return thresholds and how this affects the ODFI
• Breakdown of the Same Day ACH outline and it's three-phase approach

• Addition of the new Section in Article One (General Rules) to establish Unauthorized Entry Fees which establishes obligation of the ODFI to pay the fees to the respective RDFIs - Effective 3 Oct 2016
• An Originator/Third-Party Service Providers disclosure requirements to consumers with cards used to initiate ACH Point of Sale (POS) Entries
• Same-day ACH Phase 1, allowing same-day ACH credits - Effective 23 Sep 2016
• Same-day ACH Phase 2, allowing same-day ACH debits - Effective 15 Sep 2017
• Same-day ACH Phase 3, full implementation of the rule - Effective 16 Mar 2018
• Third-Party Sender Registration - Effective 29 Sep 2017
• Impact on funds availability and settlement with the RDFI and Receiver with Same Day ACH

This will benefit a wide array of Professionals such as:

• Financial Institution CEO's and CFOs
• ACH Operations staff
• Compliance Officers
• ACH Managers
• Electronic Payments Professionals
• AAP's - keeping up with changes in ACH Rules and wanting to earn AAP Continuing Education Credits

• Financial Institutions
• ACH Operations Departments
• Audit Departments (within financial institutions)
• LinkedIn Group - called "AAP"