NACHA Issues Request for Comment on Compliance and Operational Topics

Posted October, 1 2014

NACHA requests comments on five proposals to amend the NACHA Operating Rules on various Compliance and Operational topics. This RFC addresses:
  • Recrediting of Receiver - Removal of the Fifteen-Calendar-Day Notification Timeframe;
  • TEL Entries – Field Inclusion Requirement/Data Content for Payment Type Code Field;
  • Clarification of RDFI Warranties for Notifications of Change;
  • Valid Characters for ACH Records; and
  • Disclosure Requirements for POS Entries.
Additionally, NACHA requests information on the topic of ODFI Requests for Return for fraudulently-originated ACH credit Entries with the issuance of a Request for Information (RFI). Comments are due by October 24, 2014.
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