The Nacha Operating Rules are set to undergo changes in 2024, with minor updates coming into effect on June 21. These changes are designed to refine and clarify the existing rules without causing significant operational disruptions for ACH participants. Key among these updates is the clarification for WEB Entries, specifying that all consumer-to-consumer credits must utilize the WEB SEC Code, irrespective of the payment instruction’s communication channel.

Further modifications include an expanded definition of the Originator to better delineate its authorization role in crediting or debiting the Receiver’s account, and adjustments to the Originator’s actions on Notifications of Change (NOCs). These changes reflect evolving business practices, granting Originators the discretion to address NOCs for all single entries, across any Standard Entry Class (SEC) Code.

Data security requirements are also being updated to distinctly define compliance responsibilities, especially for entities newly meeting the rule’s criteria. In addition, the rules around the use of Prenotification Entries are being adjusted to allow for ACH Network-based account validation methods post the initial transaction, aligning with modern industry practices. The terminology for Subsequent Entries is also being updated to eliminate confusion and ensure uniform understanding and application across the industry.

On October 1, 2024, more substantial Risk Management amendments will take effect, focusing on enhancing fraud prevention and fund recovery. These include codifying the use of Return Reason Code R17, expanding ODFI’s return request capabilities, and revising funds availability exceptions among others.

This webinar aims to provide a comprehensive understanding of these changes, offering a high-level view of the minor adjustments in June and the more significant Risk Management topics in October, with a glimpse into the anticipated shifts in 2026. Participants will be equipped with the knowledge to seamlessly navigate these updates, ensuring continued compliance and operational efficiency within the evolving ACH landscape.

Why Should You Attend:

Navigating the upcoming 2024 changes to the Nacha Operating Rules is crucial for any professional involved in ACH transactions. This webinar will provide an in-depth analysis of the minor yet significant updates effective in June 2024, which are essential for maintaining compliance and optimizing operational efficiency. While these changes are labeled as "minor," understanding their nuances is key to ensuring your organization's processes remain aligned with the latest standards. 

The session will offer valuable insights into the adjustments related to WEB Entries, Originator definitions, and other critical aspects, ensuring you are well-prepared to implement these changes seamlessly. Furthermore, the October 2024 Risk Management updates will be covered in detail, equipping you with strategies to enhance fraud prevention and fund recovery within your operations.

While we will also touch upon the horizon of 2026 for a broader view of the evolving ACH landscape, the primary focus will remain on the actionable changes in 2024. This approach ensures you receive the most relevant and immediate guidance to navigate the present and near future of ACH regulations effectively.

By attending, you'll not only stay compliant but also gain a competitive edge in managing the intricacies of multi-state payroll tax processes. Don’t miss the opportunity to fortify your understanding and prepare your organization for the upcoming shifts in the ACH regulatory environment. 

Course Outline:

• Define minor topic changes to the Nacha Operating Rules that have little impact to operations, but still a NEED to KNOW!

• Identify the changes to the Nacha Operating Rules intended to reduce the incidence of successful fraud attempts and improve the recovery of funds after the frauds have occurred.

• Discussion on expansion of Return Reason Codes R06 and R17

• Updates to the WSUD and the timing for the RDFI to Return an Unauthorized Transaction

• Details on updates to Funds Availability Exceptions

• Overview on upcoming changes to the Rules in 2026.

What You Get:

• Training Materials

• Live Q&A Session with our Expert

• Participation Certificate

• Access to Signup Community (Optional)

• Reward Points

Who Will Benefit?

 • ACH Network Participants

• Compliance Officers in Financial Institutions

• Operations Managers in Banking and Finance

• Risk Management Professionals

• Payment Operations and Fraud Prevention Teams

• Financial Executives and Treasury Personnel

• Auditors and Consultants specializing in ACH Processes

• Legal Advisors in Financial Services

• IT and Security Professionals in Banking Sector