Nacha Rules Changes and Updates for 2023 and the Future!

The Nacha Operating Rules change often, and ACH participants must keep up to stay compliant. This 90-minute Nacha rules changes webinar reviews a set of amendments and Nacha's 2020 ACH Operations Bulletins, which explained rule updates and extended effective dates during the COVID-19 period.

You'll look at the expansion of Same Day ACH, the supplemented fraud detection standard for WEB debits, account information security requirements for large Originators and third parties, and the ACH Contact Registration Rule.

The session also covers the repurposing of Return Reason Code R11 for unauthorized returns, ODFI reporting requirements for R11, the Unauthorized Entry Fee, and Meaningful Modernization changes on reversals, enforcement and warranty claims.

• Explain how Same Day ACH amendments affect ODFIs and RDFIs
• Describe the WEB debit fraud detection and data security requirements
• Apply R10 and R11 correctly for unauthorized returns
• Define general ACH audit requirements and the ODFI audit
• Outline audit duties for third-party senders and service providers
• Use tips and key questions when performing the annual ACH rules compliance audit

Rule changes

• Amendments expanding Same Day ACH and their effect on RDFIs and ODFIs
• Supplementing the fraud detection standard for internet-initiated (WEB) debits
• Supplementing account information security requirements for large Originators and third parties
• Repurposing Return Reason Code R11 to specify why an unauthorized entry is returned
• ODFI reporting requirements for R11 and the Unauthorized Entry Fee
• The ACH Contact Registration Rule
• Nacha's 2020 Operations Bulletins
• Meaningful Modernization: reversals and enforcement, and limitations on warranty claims
• Possible changes on account information improvements through the ACH Network, plus related RFCs and RFIs

ACH audit

• General audit requirements
• The ACH audit for the ODFI and its Originators
• Audit requirements for third-party senders, including registration with Nacha
• Third-party service provider responsibilities for the annual ACH audit
• Tips and questions for auditors performing the annual ACH rules compliance audit
• Best practices and additional audit requirements defined by Nacha

Each rule change affects ACH operations differently depending on whether you are an ODFI, RDFI, Originator, third-party sender or service provider. RDFIs need to use R10 and R11 correctly, and ODFIs need to understand the R11 reporting duties.

This session suits financial institution operations, compliance, risk and audit staff, treasury management professionals, AAPs, third-party processors and senders, payroll processors and business owners who originate ACH entries.

• 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).