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|2021 NACHA Rule Updates
March – Supplementing Fraud Detection Standards for WEB Debits
Effective on March 19, 2021, the rule change is intended to enhance quality and improve risk management within the ACH Network by supplementing the fraud detection standard for Internet-initiated (WEB) debits. ACH originators of WEB debit entries have always been required to use a “commercially reasonable fraudulent transaction detection system” to screen WEB debits for fraud. The existing screening requirement is supplemented by this change to make it explicit that “account validation” is part of a “commercially reasonable fraudulent detection system”. The supplement requirement would apply to the first use of an account number or changes to the existing account.
June – Supplementing Data Security Requirements for Large Originators, Third-Party Service Providers and Third-Party Senders (Phase 1)
Effective on June 30, 2021, this change to the Rules is intended to enhance quality and improve risk management within the ACH Network by supplementing the existing account information security requirements for large-volume Originators and Third-Parties. Participants are required to protect deposit account information collected for or used in creating ACH transactions by rendering it unreadable when it is stored electronically.
This change will be implemented in two phases:
June – Limitation on Warranty Claims
Effective June 30, 2021, this change to the Rules limits the length of time in which an RDFI is permitted to make a claim against the ODFI's authorization warranty
June – ReversalsEffective June 30, 2021, this Rule change addresses improper uses of reversal and provides for enforcement capabilities in the event of egregious violations of the Rules. The Rule also spells out that beyond the current use of 'REVERSAL' in the ACH batch description field, the format of the reversal must be identical to the original entry including the amount. Originators are allowed flexibility to accommodate minor variations in the batch header Company Name field for tracking purposes. The RDFI is permitted to return of an improper REVERSAL using return code R11 for consumer accounts and R17 for non-consumer accounts and expands returns to be permissible due to 'wrong date'.
September – Meaningful Modernization
Effective September 17, 2021, this is a grouping of five Rules, which:
|2022 - Upcoming NACHA Rules
March – Increasing Same Day ACH Dollar Limits
This rule will continue to expand the capabilities of Same Day ACH. Increasing the Same Day ACH dollar limit to $1 million per payment is expected to improve Same Day ACH use cases, and contribute to additional adoption.
June – Supplementing Data Security Requirements (Phase 2)
This rule supplements previous ACH Security Framework data protection requirements by explicitly requiring large, non-FI Originators, Third-Party Service Providers and Third-Party Senders to protect deposit account information by rendering it unreadable when it is stored electronically.
September – Third-Party Sender Roles and Responsibilities
The overarching purpose of these Rules is to further clarify the roles and responsibilities of Third-Party Senders in the ACH Network by
The two Rules will become effective September 30, 2022, with a 6-month grace period for certain aspects of each rule.