September 22, 2008
Issued: September 22, 2008 Initial Registration Period: September 22, 2008 – November 3, 2008 EXECUTIVE SUMMARY On July 30, 2008, Nacha’s Board of Directors approved a Policy Statement on Direct Access. This policy addresses the importance of Originating Depository Financial Institutions (ODFIs) registering with Nacha their direct access relationships for ACH debit transactions, and following prudent risk management techniques including adherence to best practices for the duration of these relationships.
August 1, 2008
Issued: April 1, 2008 Effective: August 4, 2008 EXECUTIVE SUMMARY The effective date of Nacha’s Rules Interpretation (“Interpretation”) on the Proper Use of SEC Codes and the Aggregation of Transactions (see ACH Operations Bulletin, November 9, 2007) is extended to August 4, 2008.
July 31, 2008
Issued: July 31, 2008 Effective: September 18, 2009 EXECUTIVE SUMMARY
July 30, 2008
National Automated Clearing House Association Policy Statement on Direct Access Policy Summary
November 9, 2007
Issued: November 9, 2007 Effective: May 5, 2008 EXECUTIVE SUMMARY This ACH Operations Bulletin describes a written interpretation (“Interpretation”) of the Nacha Operating Rules (“Rules”) approved by the Nacha Board of Directors on November 7, 2007. The Interpretation provides that:
September 19, 2007
Issued and Effective: September 19, 2007 SUMMARY This ACH Operations Bulletin announces the suspension of the implementation date of September 21, 2007 for an amendment to the Nacha Operating Rules that would establish a formatting convention for use of the Individual Identification Number Field when CIE Entries are used for online consumer Federal tax payments. The suspension is effective for a period not to exceed one year - September 19, 2008. DISCUSSION
August 28, 2007
Issued: August 28, 2007 Effective: September 28, 2007 EXECUTIVE SUMMARY This ACH Operations Bulletin describes Nacha’s Interim Policy on ACH Data Breach Notification Requirements (“Interim Policy”), identifies the policy’s requirements for Originating Depository Financial Institutions (“ODFI”s), and provides guidance to Receiving Depository Financial Institutions (“RDFI”s). The Interim Policy, which is attached to the bulletin, contains two major features, which are described in more detail below:
March 13, 2007
This Operations Bulletin has been issued in accordance with Section 13.3 (Interpretative Rules) of the Nacha Operating Rules to clarify the Rules with respect to the exclusive use of the BOC and POP formats for the electronic conversion of checks accepted at the point of purchase. SUMMARY:
January 16, 2007
Through this Operations Bulletin, Nacha calls attention to current laws and forthcoming regulations that may affect the ACH Network.
September 15, 2006
Effective September 15, 2006, the Nacha Operating Rules (Rules) with respect to several dishonored return and contested dishonored return reason codes were modified to more clearly define the circumstances under which those codes should be used. This Operations Bulletin is intended to be a reminder of the key points related to the appropriate use of Return Reason Code R69 (Field Errors) and address a common misuse of this return code in today’s marketplace. Returns Dishonored Due to Incorrect Information
September 15, 2006
On September 15, 2006, an amendment to the Nacha Operating Rules (Rules) became effective that modified the rules with respect to Accounts Receivable Entries (ARC) and Point-of-Purchase Entries (POP) to enable ACH participants to more readily identify business checks that are ineligible for conversion to ARC and POP entries. Similar provisions will apply to Back Office Conversion Entries (BOC) when the application becomes effective on March 16, 2007. This Operations Bulletin is intended to remind ACH participants of the fundamental aspects of this amendment.
July 27, 2006
Nacha has recently become aware of a problem involving the incorrect handling of Notifications of Change (NOCs) when an RDFI has recently divested a number of accounts. This Operations Bulletin is intended to remind ACH participants, and ODFIs and their Originators in particular, about the proper handling of changes requested via the NOC process.