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October 19, 2020
ACH Operations Bulletin #7-2020 Nacha Provides Update on COVID-19 Relief and Upcoming Effective Dates
Approximately six months ago, Nacha issued several ACH Operations Bulletins and Frequently Asked Questions announcing relief from a variety of requirements of the Nacha Operating Rules due to the impact of the coronavirus pandemic. This ACH Operations Bulletin provides an update on…
ACH, ACH Network, ACH Operations, Operations Bulletin
April 2, 2020
Businesses that originate pre-authorized ACH debits for services that have been interrupted may face an elevated risk of returns. This could be due to consumers who: 1) lack funds (i.e., NSF); 2) place stop payment orders with their own banks or credit unions; or 3) make claims that debits are…
ACH, ACH Network, ACH Operations, Operations Bulletin
March 27, 2020
The Nacha Rules require an RDFI to accept a consumer’s Written Statement of Unauthorized Debit (WSUD), and also require that the WSUD be signed or similarly authenticated.
In light of the current need for many RDFIs to reduce on-site staffing levels, and the physical distancing requirements that…
ACH, Operations Bulletin
March 26, 2020
ACH Operations Bulletin #4-2020: Nacha Extends Effective Dates of Data Security Rule; Affirms Effective Dates of Other Rules
Executive Summary
The upcoming effective dates of the Rule on Supplementing Data Security Requirements are extended by one year, to June 30, 2021 and June 30, 2022, respectively. The effective dates of other approved and upcoming Rules remain in effect.
Discussion
Supplementing Data…
ACH, ACH Network, ACH Operations, Operations Bulletin
March 20, 2020
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 with proof of a Receiver’s authorization (…
ACH, ACH Network, ACH Operations, Operations Bulletin
March 9, 2020
ACH Operations Bulletin #2-2020: Nacha Issues Reminder on ACH Responsibilities to Financial institutions Potentially Impacted by Coronavirus
EXECUTIVE SUMMARY
Nacha reminds financial institutions of the importance of reviewing their business continuity plans to ensure that they are prepared to maintain ACH payment processing capabilities in the event of possible disruptions.
DISCUSSION
In light of the potential impact of…
ACH, ACH Network, ACH Operations, NACHA Operating Rules, Operations Bulletin
January 9, 2020
EXECUTIVE SUMMARY
The March 19, 2021 effective date for the new Same Day ACH processing window is confirmed.
DISCUSSION
Nacha Rules Ballot #1-2018, Expanding Access to Same Day ACH, provided for the creation of a third, daily Same Day ACH processing window to be established by the…
ACH, ACH Network, ACH Operations, Operations Bulletin, Same Day ACH
July 8, 2019
ACH Operations Bulletin #4-2019: Extension of the Effective Date for Rule Supplementing Fraud Detection Standards for WEB Debits
EXECUTIVE SUMMARY
The upcoming effective date of the rule on Supplementing Fraud Detection Standards for WEB Debits is extended from January 1, 2020 to March 19, 2021. This extension is in response to industry requests to allow additional time for awareness, education and implementation.…
Operations Bulletin
May 10, 2019
According to the Federal Deposit Insurance Corp., Capital requirements for fintechs interested in bank charters are proving burdensome. Newly chartered financial institutions are required by the Regulator to have achieved a capital-to-assets level of at least 8 percent during its first three years…
Legislative and Regulatory
May 10, 2019
Click here for a summary of the Congressional Outlook for May 2019.
Legislative and Regulatory