ACH Operations Bulletin: Unlawful Internet Gambling Transactions

Posted January 12, 2009

This ACH Operations Bulletin describes the obligations of participants in the ACH Network under a new regulation implementing the Unlawful Internet Gambling Enforcement Act, which were issued on November 12, 2008 by the Federal Reserve Board and the U.S. Department of the Treasury (the “Regulation”). 

Direct Access Registration Requirements For Originating Depository Financial Institutions

Posted September 22, 2008

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.

Effective Date of NACHA Rules Interpretation Extended to August 4, 2008

Posted August 1, 2008

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.

IAT Effective Date Extended to September 18, 2009

Posted July 31, 2008

NACHA’s Board of Directors has extended the effective date of the International ACH Transaction (IAT) rules and formats for six months, to September 18, 2009.

NACHA Board of Directors Policy Statement on Direct Access

Posted July 30, 2008

This policy addresses the importance of DFIs registering their direct access relationships with NACHA and following prudent risk mitigation techniques, including adherence to best practices, for the duration of these relationships.

Synovus Financial Corporation Receives NACHA’S 2008 George Mitchell Payments System Excellence Award

Posted May 20, 2008

LAS VEGAS—May 20, 2008— NACHA—The Electronic Payments Association announced today that Synovus Fi