Nacha Rules Changes and Updates for 2023 and the Future!

The NACHA Operating Rules are always changing, updates have recently been made and continue to be in place due to the current COVID-19 situation! Four ACH Operations Bulletins posted by Nacha in 2020 explain the updates to the Rules due to changes at financial institutions and extensions of effective dates in light of the current situation and confirm some Rule changes with current effective dates remaining.

• Define general audit requirements
• Identify the details of the ACH audit for the ODFI (and how this pertains to their Originators)
• Outline the audit requirements for the third-party sender – including the new requirement for registration with NACHA
• List what the third-party service provider is responsible for in regard to the annual ACH audit
• Provide tips to help the auditor performing the annual ACH audit – to ensure compliance with the NACHA operating rules
• Review best practices and requirements for additional audit requirements (as defined by NACHA)
• Overview of questions to ask while performing the annual ACH rules compliance audit

• Define amendments to the Rules on Expanding Same Day ACH and how these changes will affect you as a financial institution, as the RDFI and the ODFI!
• Describe the potential impact on participants in the ACH network with approved changes to other ACH Risk Management topics such as:

           1. Supplementing the fraud detection standard for Internet-initiated (WEB) debits
           2. Supplementing the existing account information security requirements for large Originators and Third-Parties (effective date has been extended)

• Details on the most recent change to specifying the details of an unauthorized return by repurposing Return Reason Code R11 to further define the "why" or purpose of return entry
• Includes all details on the six 2020 Operations Bulletins as issued by Nacha since Jan 2020
• Updates on the recently approved changes for Meaningful Modernization "Reversals and Enforcement" and and "Limitations on Warranty Claims". Plus potential changes regarding "Account Information Improvements Through the ACH Network"

To remain in compliance with the Rules, participants in the ACH network need to ensure they are up to date on recent changes and newly approved amendments to the Rules. Discussion on the Operations Bulletins issued by Nacha will outline the updates to different Rules with our current situation and COVID-19. Recent RFC (Request for Comment) and an RFI (Request for Information) on even more possible changes will be discussed. Included will be the most recent amendment that affects all financial institutions using the ACH Network.

You will learn about the impacts of the ACH Contact Registration Rule – which went into effect on July 1, 2020!

This session will also cover the newly approved details and any recent updates by NACHA, plus how these changes affect you as a participant in the ACH network, whether you are an ODFI, an RDFI, or a TPS or TPSP. Changes such as Data Security requirements (effective date has been extended) and how Originators are affected by the Fraud Detection Standards for web debits. In addition, the processing of Unauthorized Returns has changed effective April 1, 2021, for phase 1 (phase 2 goes into effect April 1 of 2022) – As the RDFI, are you prepared for the proper use of R10 and R11 (what to do if you’re not ready) and as the ODFI, are you aware of changes to the ODFI Reporting Requirements for R11 and the Unauthorized Entry Fee?

This is a must-attend session, your ACH operations process IS CHANGING! Register Today!

• Financial Institution Professionals (New/Current Operations Staff)
• Third-Party Processors
• Originating Companies
• Banking Operations Managers and Staff
• Compliance and Risk Professionals
• Treasury Management Professionals
• Aspiring and Current AAPs (Accredited ACH Professionals)
• Payroll Processors
• Company / Business Owners (Originators)
• Banking Managers/ Supervisors
• Third-Party Service Providers and Third-Party Senders
• Audit and Compliance Personnel / Risk Manager

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. Donna is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing specifically ACH electronic payments, then scheduling the training events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Donna has over 24 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).