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The ACH Rules are processing guidelines; they do not encompass every aspect of bank responsibility for ACH transactions. Failure to balance applicable laws, regulations and guidance can result in non-compliance, fines, reputational damage and even lawsuits.
From contract law to UCC, this session defines applicable requirements and provides examples of how each applies. Participants will apply their new knowledge to provided situations using cases and polls.
- Identify laws, regulations and guidance applicable to ACH processing
·Document how requirements affect processing, liability and participant contracts
·Define appropriate requirement based on given situations or cases
·Record improvements to the bank’s processes and procedures
NOTE: Attendees should have access to a copy of the 2020 NACHA Operating Rules and Guidelines for this course.
If you do not currently have a 2020 NACHA Operating Rules and Guidelines book, you can purchase one:
- Save 15% off the non-member rate for attending this course through NEACH. Contact Sandy Ortins at firstname.lastname@example.org or create a guest user profile at www.neach.org. Promo code RPPaymentsRisk
- Through your banks Regional Payments Association (if applicable)
- Order through NACHA at www.nacha.org
- Contract law
- Legal framework of ACH
- Participants apply new knowledge to cases
WHO SHOULD ATTEND:
This informative session is designed as an introduction to the world of laws and regulations that impact ACH transactions from the ODFI and RDFI perspective. Any staff member new to this environment will benefit, including Operations, Branch Managers, Call Center personnel, Tellers, Customer Service representatives, Risk Managers, Compliance, Audit, Retail Managers, Trainers, Lenders, Legal Counsel, and Senior Management.