42 results related to "*"
Summary A Nacha Request for Information in 2024 asked, “As an RDFI, do you currently return any entries using the same-day windows?” Only 59% of respondents said they use Same Day ACH processing windows to send any returns. Of those that do, 45% use …
Executive Summary The ACH Network is a payment system that reaches all U.S. bank and credit union accounts. ACH payments are routed utilizing the routing transit number (“routing number” or “RTN”) of the Receiving Depository Financial Institution (RDFI). …
ACH Operations Bulletin #3-2024-Open Banking and ACH Payments: The Impact of the CFPB’s Personal Financial Data Rights Final Rule
Executive Summary On October 22, 2024 the Consumer Financial Protection Bureau (“CFPB”) released its final rule implementing section 1033 of the Consumer Financial Protection Act (the “Personal Financial Data Rights Final Rule” or “Final Rule”). 1 This …
Summary In 2023, Nacha issued a Request for Comment on a proposal to standardize the use of the Individual Name field in consumer ACH Entries. While the proposal did not move forward to ballot, Nacha recommends that Originators and their Third-Party …
Summary The effective date of recently adopted rules language requiring an RDFI to notify the ODFI of the status of a request for return within 10 banking days has been extended by 6 months to April 1, 2025. In addition, two upcoming rules have effective …
ACH Operations Bulletin #3-2020: Nacha Provides Relief from Deadlines Related to Certain Required Records
In light of the current need for organizations to reduce on-site staffing levels, Nacha is providing temporary relief from deadlines for delivery of certain records that are required under the Nacha Rules. Under the Rules, an ODFI must provide an RDFI …
ACH Operations Bulletin #1-2019: Indemnification Agreement for Use by Financial Institutions in Requesting Return of Funds from ACH Entries
EXECUTIVE SUMMARY Nacha is publishing the attached form, entitled “Indemnification Agreement – Request for Return of Funds from ACH Entry” (“Indemnification Agreement”), for use by financial institutions in certain situations in which an ODFI requests the …
ACH Operations Bulletin #1-2014: Questionable ACH Debit Origination: Roles and Responsibilities of ODFIs and RDFIs
Replaces ACH Operations Bulletin #2-2013 (Originally Issued March 14, 2013); and ACH Operations Bulletin #3-2013 (Originally Issued July 15, 2013) PDF version of this Bulletin This ACH Operations Bulletin [1 ] addresses the applicability of various …
This ACH Operations Bulletin provides guidance to ACH Network participants, particularly Receiving Depository Financial Institutions, on the application of the Federal Reserve Board’s recent amendments to Regulation E on overdrafts to a specific class of …