NEW Nacha Operating Rules Changes in 2024

Every ACH Network participant must comply with the Nacha Operating Rules. This 90-minute webinar reviews two sets of 2024 amendments and what they mean for your ACH operations.

The first set covers minor topics: the general rule for WEB entries, the definition of originator, originator action on notifications of change, data security requirements, use of prenotification entries and clarified terminology for subsequent entries. These took effect June 21, 2024.

The second set, effective October 1, 2024, is part of a larger risk management package meant to reduce successful fraud and improve recovery of funds. It codifies expanded use of Return Reason Code R17, expands ODFI requests for return (R06), adds funds availability exceptions, changes the timing of the written statement of unauthorized debit and requires RDFIs to return unauthorized debits promptly.

• Describe the minor 2024 changes to the Nacha Operating Rules
• Identify the risk management changes aimed at reducing fraud and improving fund recovery
• Explain the expanded use of Return Reason Codes R06 and R17
• Apply the updated WSUD timing and RDFI prompt-return requirement
• Recognize the additional funds availability exceptions

Minor rule changes (effective June 21, 2024)

• General rule for WEB entries
• Definition of originator
• Originator action on notification of change
• Data security requirements
• Use of prenotification entries
• Clarified terminology for subsequent entries

Risk management rule changes (effective October 1, 2024)

• Changes meant to reduce successful fraud and improve recovery of funds
• Expanded use of Return Reason Codes R06 and R17
• Updates to the WSUD and the timing for the RDFI to return an unauthorized debit
• Additional funds availability exceptions

To stay compliant, ACH participants need to know the approved amendments to the Rules. The minor changes have little processing or financial impact but still require compliance, while the risk management changes affect how fraud cases and fund recovery are handled.

This session suits financial institution operations staff, third-party processors, originating companies, compliance, risk, audit and treasury management professionals, banking managers and current or aspiring AAPs.

• 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, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. Donna is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing specifically ACH electronic payments, then scheduling the training events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Donna 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 (achieved in 2004).