The Limitation on Warranty Claims limits the length of time in which an RDFI will be permitted to make a claim against the ODFI’s authorization warranty. The rule will become effective June 30, 2021.

By Richard Oliver & George Warfel Jr.

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These Rules intend to improve and simplify the ACH user-experience by: Facilitating the adoption of new technologies and channels for the authorization and initiation of ACH payments; Reducing barriers to use of the ACH; Providing clarity and increasing consistency around certain ACH authorization processes; and Reducing certain administrative burdens related to ACH authorizations

There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. 

You may never have heard of the Nacha Operating Rules but there’s almost certainly a rule or two (or three, or four) that impacts your life.

The existing ACH Security Framework Rule -- including its data protection requirements -- will be supplemented to explicitly require large, non-FI Originators, Third-Party Service Providers and Third-Party Senders to protect deposit account information by rendering it unreadable when it is stored electronically.

The WEB Debit Account Validation Rule became effective March 19, 2021. The rule was originally approved by Nacha members in November 2018 to become effective January 1, 2020.

This rule expands access to Same Day ACH by allowing Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day. The new Same Day ACH processing window became effective on March 19, 2021.

This rule better differentiates among types of unauthorized return reasons for consumer debits. This differentiation will give ODFIs and their Originators clearer and better information when a customer claims that an error occurred with an authorized payment, as opposed to when a customer cl