- Speaker : Donna K Olheiser
- Session Code : DRAPR1921
- Date : 19th April 2021
- Time : This Event is Over and the Recorded Copy is Available
- Duration : 1 Hour 26 Mins
NEW Nacha Rules Updates for 2021 and 2022 - NEW amendments that you need to know
Overview:
Each
participant in the ACH Network is required to be in compliance with the Nacha
Operating Rules. There are several NEW
amendments recently passed which will change the ACH Network processes – this
is a NEED to know! In addition, an
overview on Operations Bulletins (issued by Nacha) will be discussed (there are
six of them for 2020).
This
session will provide the for changes to the Same Day ACH (SDA) environment
(effective March 2021), the Unauthorized Return process with a new Return
Reason Code R11 and the ACH Contact Registry (both effective right now – NEW!!! and more!
Details
on the new proposed amendment to the Nacha Operating Rules regarding Account
Information Improvements Through the ACH Network, with a proposed effective
date of March 18, 2022.
PLUS,
Limitation on Warranty Claims, the Reversal Process and Rules Enforcement
changes surrounding reversals, and Meaningful Modernization to enhance the ACH
Network to keep up with changes in the payments landscape (all effective in
2021).
Areas Covered:
- 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:
- Supplementing
the fraud detection standard for Internet-initiated (WEB) debits
- 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”
Key Take Away:
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! There are six ACH Operations Bulletins posted by Nacha in 2020; four of them explain theupdates to the Rules due to changes at financial institutions and extensions of effective dates in light of the current situation; and confirming some Rules changes with current effective dates remaining.
Details necessary to help participants in the ACH Network remain compliant with these NEW amendments going into effect for 2021 and 2022, including Unauthorized Returns and the ACH Contact Registry that went into effect in 2020!
Plus, details on the most recent amendments with effective dates in 2021 and 2022; on “Meaningful Modernization”, “Reversals and Enforcement” and “Limitation on Warranty Claims”. Included are details on a potential change regarding “Account Information Improvements Through the ACH Network”.
Why
Should You Attend?
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. 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, 2020 for phase 1 (phase 2 goes into effect April 1 of 2021) – 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?
Register
today for your chance to see how these new Rules will impact your ACH
Operations areas.
Who will benefit?
- 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)
- Banking
Managers/ Supervisors
- Audit and Compliance Personnel / Risk Managers
Donna
K Olheiser, AAP, is the vice president of Education Services and founder of
Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master
Trainer with over 14 years’ experience. She has designed and facilitated over
150 training sessions each year with her expertise being the rules for
companies and financial institutions when processing electronic (specifically
ACH) payments, then scheduling the events to facilitate/deliver the material
through a variety of venues (webinars, teleseminars, in-person workshops,
including regional and national conferences). Ms. Olheiser is also an
experienced project manager managing education programs for organizations
processing electronic payments and developing personalized training programs
for financial institutions.
She
has over 23 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).
Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.
Enrollment Options
Tags: Donna Olheiser, Nacha Rules, Webinar, Amorit Education