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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 #4-2020: Nacha Extends Effective Dates of Data Security Rule; Affirms Effective Dates of Other Rules
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. …
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 …
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 …
Unprecedented is a good word to describe what we’ve been living through in recent weeks. The challenges facing Americans are unlike anything in recent memory. For so many who find themselves in financial trouble, federal stimulus money can’t come fast …