This webinar will provide all the details on the most recent and upcoming NACHA Operating Rules changes due to the current COVID-19 that affect you as a participant in the ACH network, whether you are an ODFI, an RDFI or a TPS (Third-Party Sender) or TPSP (Third Party Service Provider) to remain compliant with the amendments going into effect for 2020 and 2021. Multiple Rules Changes, NACHA Operations Bulletins, Supplements to the Rules along with examples and explanations of what they each mean to you as a participant will be discussed.
The NACHA Operating Rules are always changing, and updates have recently been made due to the current COVID-19 situation! There are six ACH Operations Bulletins posted by Nacha in 2020; four of them explain the updates to the Rules due to changes at financial institutions and extensions of effective dates in light of the current situation; and confirming some Rules changes with current effective dates remaining.
Areas Covered in the Webinar:
Define amendments to the Rules on Expanding Same Day ACH and how these changes will affect you as a financial institution, including the recent extension on expanding SDA timeframe
Describe the potential impact on participants in the ACH network with approved changes to other ACH Risk Management topics such as:
Supplementing the fraud detection standard for Internet-initiated (WEB) debits
Will include details on the six 2020 Operations Bulletins as issued by NACHA since Jan 2020
Updates regarding the RFC on Meaningful Modernization (comments were due by May 1, 2020)