July 27, 2006
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.
May 16, 2006
The National Association of Attorneys General (NAAG) has advised Nacha of a problem with violations of federal and state laws governing the sale of tobacco products by Internet tobacco retailers. NAAG has requested Nacha’s assistance in their efforts to stop the illegal sale of tobacco over the Internet, asking that the Nacha membership refuse to provide electronic payment processing services to Internet tobacco retailers engaged in illegal sales.
April 28, 2006
The Electronic Payments Association will present its 2006 George Mitchell Payments System Excellence Award to Roger W. Ferguson, Jr., Vice Chairman of the Federal Reserve Board, who is completing his service to the Federal Reserve and the U.S. payments system on April 28, 2006. The award is named after one of Ferguson’s predecessors as Vice Chairman — George W.
April 24, 2006
HERNDON, Va., April 24 -- Nacha-The Electronic Payments Association will award its 2006 Kevin O'Brien ACH Quality Award to Parish National Bank of Covington, Louisiana, in recognition of its disaster and business continuity planning and its remarkable efforts to provide its customers with automated clearing house (ACH) payment services in the aftermath of Hurricane Katrina.
March 17, 2006
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 POP format for the electronic conversion of checks accepted at the point of purchase.
February 17, 2006
This operations bulletin is intended to alert ODFIs and other ACH Network participants to the following risks and dangers associated with this practice.
January 13, 2006
This amendment modified the Nacha Operating Rules to explicitly state that Nacha’s Board of Directors has the authority to issue binding, written interpretations of the Rules.
October 20, 2005
This operations bulletin is intended to clarify that Return Reason Code R08 (Payment Stopped) can be used to return any entry (including ARCs and RCKs) where a stop payment order has been placed on the ACH entry.
September 25, 2005
Use of the PPD Standard Entry Class Code for the conversion of consumer checks accepted at the point of purchase for payment of goods and services is not expressly recognized under the Nacha Operating Rules, as the POP application was designed with the express purpose of converting checks at the point of purchase.
September 15, 2005
The ACH Rules Enforcement Panel has decided that it will not impose penalties on financial institutions that originate XCK entries to collect checks currently defined as ineligible under Subsection 2.7.2 of the Nacha Operating Rules.
September 6, 2005
The following question and answer format is intended to provide guidance to RDFIs in responding to the needs of their account holders while remaining in compliance with the requirements of the Nacha Operating Rules.
April 12, 2005
SAN ANTONIO, Texas - Citigroup was recognized for their respective accomplishments in electronic-payment system implementation during Nacha -The Electronic Payments Association's PAYMENTS 2005 conference. In 2004, Citigroup originated 425 million ACH payments, including on-us items, doubling its volume of 2003, and in the process jumping from the eighth to the fifth largest bank originator of ACH payments, according to the Nacha Top 50 list.Seventy-eight percent of Citigroup's ACH growth is attributable to a decision by its Citi Cards business unit to use ARC to convert checks it receives fro