This rule change modifies the Rules to provide financial institutions and third-party service providers with greater flexibility in conducting annual Rules compliance audits. The rule does not change the requirement to conduct a Rules compliance audit annually, but rather changes the structure of the audit requirement within the Rules by consolidating requirements for the annual Rules compliance audit into one section and removing redundant material.
These ballots amend the Rules to address a variety of minor topics. Minor changes to the Rules have little-to-no impact on ACH participants and no significant processing or financial impact.
ACH Operator Edits
This change aligns the Rules with current ACH Operator file editing practices.
Clarification on TEL Authorization Requirement
This change makes clear that the general rules governing the form of authorization for all consumer entries apply to TEL entries. This rule also incorporates a reference to consumer account within the general rules for TEL entries.
Clarification of RDFI Obligation to Return Credit Entry Declined by Receiver
This change clarifies the specific conditions under which an RDFI is excused from its obligation to return a credit entry. It also modifies the language to refer to an entry being “declined” (rather than “refused”) by the Receiver.
Editorial Clarification on Reinitiation of Return Entries
This editorial change clarifies the existing intent that reinitiation is limited to 2 times.
Editorial Clarification on RDFI Liability Upon Receipt of a Written Demand for Payment
This editorial clarification makes clear that an RDFI may return a Written Demand for Payment only if it was not properly originated by the ODFI.
June 21, 2019
RETURN FOR QUESTIONABLE TRANSACTION
This change to the Nacha Operating Rules will enhance quality and improve risk management within the ACH Network by allowing RDFIs to indicate within a return that the original transaction was questionable or part of anomalous activity.
RDFIs may but are not required to use return reason code R17 to indicate that the RDFI believes the entry was initiated under questionable circumstances. RDFIs electing to use R17 for this purpose will use the description “QUESTIONABLE” in the Addenda Information field of the return. An R17 in conjunction with this description enables these returns to be differentiated from returns for routine account number errors.
September 20, 2019
PROVIDING FASTER FUNDS AVAILABILITY
This Rule increases the speed of funds availability for certain Same Day ACH and next-day ACH credits.
Establishes additional funds availability standards for ACH credits
Funds from Same Day ACH credits processed in the existing, first processing window will be made available by 1:30 p.m. in the RDFI's local time
Funds from non-Same Day ACH credits will be available by 9:00 a.m. RDFI's local time on the Settlement Date, if the credits were available to the RDFI by 5:00 p.m. local time on the previous day (i.e., apply the existing “PPD rule” to all ACH credits)