News

ODFI Liability for Breach of Warranty

Posted March 28, 2003

The question relates to whether an ODFI’s liability for a breach of its warranty that an ACH entry is authorized is limited to the period of time in which an RDFI has the right to return the entry through the ACH Network (i.e., sixty days after the settlement date of the entry for consumer transactions and two days after the settlement date of the entry for non-consumer transactions) or whether this liability exists for a longer period of time.

Telephone-Initiated (TEL) Entries

Posted September 19, 2002

This Operations Bulletin is intended to identify specific risk management concerns related to the origination of TEL entries and to clarify key rules obligations with respect to proper authorization and use of the TEL application.