Every participant in the ACH Network needs to be in compliance with the NACHA Operating Rules, the ODFI and RDFI sign an agreement with the ACH Operator (ACH Participation Agreement) where they agree to be bound by the NACHA Operating Rules. What does this mean to the ODFI an RDFI?
This 90-minute payments webinar will outline how the ACH Rules Enforcement Process works, what binds the participants to the Rules and what happens when the Rule are not being followed by a participant in the ACH network.
The National System of Fines (a part of the Rules Enforcement Process) will be discussed in detail with specifics on the different classification of violations and to further identify the consequences and fines associated with each classification when a Notice of Possible Rules Violation is filed.
Each step of the process from the reporting of the possible violation of the Rules to the Rules enforcement action by NACHA with the Rules Enforcement Committee will be outlined.
- Outline the process of filing a NPRV (Notice of Possible Rules Violation) with NACHA
- Define the National System of Fines and how each participant can be affected
- Identify the different classifications of Fines and how the fine process works
- Describe the different scenarios when a NPRV should be filed
- Provide details on how the fines are accessed and processed when there is the determination of a Rules violation
- Overview of what should happen when a participant in the network receives a notice from NACHA on a Notice of Possible Rules Violation (NPRV)
Donna, the Vice President of Education Services for Dynamic Mastership, is a Certified Master Trainer and an experienced Project Manager, with over 14 years’ experience managing education programs for organizations processing electronic payments and financial institutions operations areas. Prior to founding Dynamic Mastership 3 years ago, Donna served as the Education Services Director for UMACHA for 9 years. Donna began her career serving as Training and Development Specialist for the Federal Reserve Bank, Minneapolis.
1.5 CPE Credits & 1.8 AAP Credits