Nacha Updates in the ACH Network (Operations Bulletins-RFC and RFI Details)

Description:

There are two (2) Operations Bulletins released in Oct and Dec 2024; the first one being ACH Operations Bulletin #3-2024-Open Banking and ACH Payments: covering the Impact of the CFPB’s Personal Financial Data Rights Final Rule, and the second ACH Operations Bulletin #4-2024-Importance of Maintaining Up-to-Date Routing Transit Numbers.

Also in the Nacha Rules space, there was a recent RFC (Request for Comment) and the RFI (Request for Information) – one with "changes that may happen" in the Rules space and the other being Nacha gathering information on other topics, such as two-day ACH credits and encouraging same day returns.

The trainer will cover all the detail relating to potential changes to the ACH network with this RFC and what the fourth SDA window means to all participants, the Originator, the ODFI, the RDFI and of course, the Receiver. Nacha also issued a RFI (Request for Information) on 2-day ACH Credits and the encouragement for the RDFI to do Same Day Returns. Discussion will include what the RFI means and how this may potentially impact participants in the ACH network in the future.

In addition, Nacha issued two (2) Operations Bulletins in Oct and Dec 2024, covering the Impact of the CFPB’s Personal Financial Data Rights Final Rule and the Importance of Maintaining Up-to-Date Routing Transit Numbers.

The trainer in this session will outline the details of the Operations Bulletins and what that means to each participant in the ACH Network.

Why Should You Attend:

The Nacha Operating Rules continue to change as the payment system evolves. In an effort to maintain compliance while processing ACH payments, participants in the ACH network NEED to stay up-to-date on what’s going on!

In situations where Nacha is gathering information (RFI) or requesting comments to potential Rules changes (RFC), participants in the ACH network NEED to be informed and aware of the details. In Oct and Dec 2024 with Nacha issuing ACH Operations Bulletins they are passing on valuable insight to participants in the network when processing ACH payments and how to apply recent updates in the electronic payments system.

Areas Covered in the Webinar:

• List the details of the recent RFC and RFI
• Identify how the ACH participants may be impacted with potential changes to the Rules outlined in the RFC
• Define the details of BOTH Operations Bulletins #3 and #4
• Outline the details for Operations Bulletins #1 and #2 – to clarify
• Describe the impact of the CFPB’s Personal Financial Data Rights Final Rule (Operations Bulletin #3)
• Cover the Importance of Maintaining Up-to-Date Routing Transit Numbers (Operations Bulletin #4)

Who Will Benefit:

• Financial Institution Professionals (New/Current Ops 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
VP of Education, Dynamic Mastership

Donna K Olheiser 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.

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 life day-to-day ACH processing. Her ability to engage the learner through the entire training event helps the adult learner apply what they've learned during each training session.

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