New NACHA Operating Rules Changes in 2024
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Speaker : DONNA K OLHEISER
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When : Wednesday, July 17, 2024
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Time : 01 : 00 PM EST
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Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC.; and holds the Accredited ACH Professional (AAP) designation (achieved in 2004). She 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 electronic (specifically ACH) payments, then scheduling the events to facilitate and deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences).
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.
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, including the internal educator for FedACH Central Operations.
Each participant in the ACH Network is required to follow the NACHA Operating Rules and be compliant.
Minor topics changes included within these updated Rules:
- General Rule for WEB Entries
- Definitions of Originator
- Originator Action on Notification of Change
- Data Security Requirements
- Use of Prenotification Entries
- Clarification of Terminology – Subsequent Entries
These minor changes will become effective June 21, 2024. PLUS - Effective on Oct 1, 2024, are Rules changes as part of a larger Risk Management package intended to reduce the incidence of successful fraud attempts and improve the recovery of funds after frauds have occurred. Included in this portion of the Risk Management Rule amendments are:
- Codifying Expanded Use of Return Reason Code R17
- Expanded Use of ODFI Request for Return/R06
- Additional Funds Availability Exceptions
- Timing of Written Statement of Unauthorized Debit
- RDFI Must Promptly Return Unauthorized Debit
The session includes an overview with a brief explanation of Rules to come in 2026 on Risk Management topics.
Areas Covered
- Define minor topic changes to the NACHA Operating Rules that have little impact on operations, but are 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 the 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 of upcoming Risk management Rules Changes-2026
Who Should Attend
- 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
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.
Whether it’s the minor Rule changes that are expected to have little-to-no impact on ACH participants and no significant processing or financial impact, it is still important to ensure you are in compliance!
The Risk Management topics will improve recovery of funds in fraud situations, these are a NEED to KNOW! Your ACH operations process is changing! Register Today to ensure YOUR compliance with the most RECENT updates to the Nacha Operating Rules!
Topic Background
New changes to the NACHA Operating Rules include "minor" Rule changes - effective June 21, 2024 (no major impact on operations but definitely a must-know to remain in compliance - by knowing the things they are clarifying in the minor Rule change topics).
In addition, Risk Management Topics - effective Oct 1, 2024 (covering topics that were proposed before but now really happening) - such as "Expanded use of Return Reason Codes R06 and R17"; "funds availability exceptions" and "Unauthorized Return changes for the RDFI with the timing of the WSUD and returning the unauthorized transaction". Outline of upcoming rule changes in 2026!
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$160.00
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