2021 ACH Rules Update
Nacha’s voting membership recently passed eight new amendments to the Nacha Operating Rules that will go into effect throughout 2021.
The new rules include:
- A limitation on the amount of time a RDFI has to make a claim against the ODFI’s authorization warranty effective June 30, 2021;
- Two new rules that address the improper use of reversals effective January 1, 2021 and June 30, 2021, and
- A suite of rules under the heading “Meaningful Modernization” that are designed to improve and simplify the ACH user experience, effective September 17, 2021.
These rules are intended to facilitate the adoption of new technologies and channels for the authorization and initiation of ACH payments, reduce barriers to use of the ACH, provide clarity and consistency around certain ACH authorization processes, and reduce certain administrative burdens related to ACH authorizations. These new rules are all in addition to the changes to Same Day ACH and account validation rules that were previously set to implement on March 19, 2021.
As you can see, next year will be a busy one for ACH. Attend this session to get some clarity around exactly what these new rules are, when you need to be ready for them and how they will impact your financial institution.
Who should attend: This session is ideal for ACH Operations, Management and Compliance Officers
1.8 AAP & APRP Credits | CTP Credits May Apply