NACHA Operating Rules: Recent and Upcoming Changes - Are You in Compliance?
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Course Description:
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.
Why should you Attend?
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.
Objectives of the Presentation- 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
Areas Covered:
- 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
Who will benefit?
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
Institutions & Departments:
- Financial Institutions
- ACH Operations Departments
- Audit Departments (within financial institutions)
- LinkedIn Group - called "AAP"
Registration Options
Tags
National Automated Clearinghouse Association, NACHA, Automated Clearing House system, ACH, ACH Network, NACHA Rules Changes, ODFI, ACH payments, Unauthorized entry fee, ACH debit, ACH credits, Funds availability and settlement, Accredited electronic payments, NACHA Operating Rules and Guidelines, Electronic Payments
Speaker Details
Donna Olheiser
VP of Education at Dynamic Mastership
Donnas extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event
Refund Policy
Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplianceTrain will issue a letter of credit to be used towards any of ComplianceTrain's future events. The letter of credit will be valid for 12 months.
ComplianceTrain will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: admin@ComplianceTrain.com
