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Nacha believes that risk management is central to maintaining a high-quality ACH Network that relies on the trust of each participant. Financial Institutions’ obligations include conducting a risk assessment and implementing a risk management program …
Although Tax Day was April 15, the IRS and State Tax Refund Return Opt-In Programs are available year-round to help financial institutions return tax refund credits in cases of suspected error or fraud. Participation is straightforward: Simply read and …
How many times have you seen something like this happen? You pay your homeowners insurance bill by ACH, but then you move, and the company refunds your balance by check. You return an item you charged to a credit card you don’t use often. After a while, …
Nacha is requesting industry comment on nine proposals to amend the Nacha Rules. These proposals concern risk management and are substantially oriented towards reducing the incidence of successful fraud and improving the recovery of funds within the ACH …
The overarching purpose of these two Rules is to deter and prevent, to the extent possible, the improper use of reversals and the harm it can cause. The two Rules explicitly address improper uses of reversals, and improve enforcement capabilities for …