ACH Audit Services

The NACHA voting membership has approved 3 rules that go into effect in 2010.  The new rules will have impact to all Financial Institutions.  Below is an overview of the amendments:

The rule amendment related to stop payments may require minor system changes or changes to your current stop payment form.  The stop payment rule will align your obligations under Regulation E and the NACHA rules.

The rule amendment related to authorizations will require all originators to review current authorization language to ensure that the language is clear and conspicuous. This rule also will have an impact on how unauthorized transactions are handled and what information is obtained from the receiver prior to returning the item.

The rule amendment related to risk assessments requires all DFIs to conduct an annual assessment based upon expectations of your examiners.

Visit the NEACH Resource Library to view ACH Rules Supplement #2 including Cover Memo. (Login Required)

Please contact Sean Carter at NEACH if you have questions related to these supplements.