Event Details*
Thursday, April 04, 2024
2:00 - 3:30 pm ET
Webinar; 1.8 AAP/APRP CEU Eligible
Level: Intermediate
Event Registration**
Member Price: Free
Non-Member Price: Members Only
We’ve all been patiently waiting, and the news is finally here! On Friday, March 15, 2024, Nacha’s Voting Membership approved the following ballots:
ACH Risk Management Topics
Ballot #1-2024: Fraud Monitoring by Originators, Third-Party Service Providers/Third Party Senders and ODFIs, effective date:
Phase 1: March 20, 2026 for all ODFIs and non-Consumer Originators, TPSPs, and TPSs with annual ACH origination volume of 6 million or greater in 2023.
Phase 2: June 19, 2026 for all other non-Consumer Originators, TPSP and TPS.
Ballot #2-2024: ACH Credit Monitoring by RDFIs, effective date:
Phase 1: March 20, 2026 for RDFIs with annual ACH receipt volume of 10 million or greater in 2023.
Phase 2: June 19, 2026 for all other RDFIs
Ballot #3-2024: Codifying Expanded Use of Return Reason Code R17, effective date: Oct 1, 2024
Ballot #4-2024: Expanded Use of ODFI Request for Return/R06, effective date: Oct 1, 2024
Ballot #5-2024: Additional Funds Availability Exceptions, effective date: Oct 1, 2024
Ballot #6-2024: Company Entry Description – "PAYROLL", effective date: March 20, 2026
Ballot #7-2024: Company Entry Description – "PURCHASE", effective date: March 20, 2026
Ballot #8-2024: Timing of Written Statement of Unauthorized Debit, effective date: Oct 1, 2024
Ballot #9-2024: RDFI Must Promptly Return Unauthorized Debit, effective date: Oct 1, 2024
Minor Rule Changes
Effective date: June 21, 2024
Ballot #10-2024: General Rule for WEB Entries
Ballot #11-2024: Definition of Originator
Ballot #12-2024: Originator Action on Notification of Change
Ballot #13-2024: Data Security Requirements
Ballot #14-2024: Use of Prenotification Entries
Ballot #15-2024: Clarification of Terminology – Subsequent Entries
Each ballot passed with an impressive percentage of 94.3% or higher, with the majority achieving a 100% average of weighted votes. NEACH, in collaboration with its member committees and Board of Directors, meticulously reviewed each proposed ballot and voted on behalf of its membership.
You might be asking yourself, now what? Join NEACH staff and your industry peers for a free member Town Hall happening on Thursday, April 4th from 2-30 PM ET where will discuss what was passed, answer questions, and have general discussion related to next steps.
Also, don‘t miss out on our upcoming two-part series happening Friday, May 31st and June 7th from 2-3 PM ET when we will dive deeper into these new rules and discuss operational impact considerations.
Speakers:
• Mark Dixon, AAP, APRP, NCP, Vice President, Education, NEACH
• Mary Mumper-Morrison, AAP, APRP, CAMS, Director, Education, NEACH
• Patty Presta, AAP, NCP, Director, Education, NEACH
Audience:
• AAPs
• ACH Coordinator
• ACH Origination
• ACH Receipt
• COO
• Electronic Banking
• Operations
• Originator/TPS Education
• Payments and Industry Trends
• Rule Book Contact
You might also like:
• Diving Into The Operation Impact Of The New ACH Rules - A Two-Part Series
*Please note that the access information will be sent to you in a separate email upon receipt of payment. Access information and support are only provided during normal business hours.