Recent ACH Rules & Enhancements from A Legal Perspective
Amendments to the Nacha Operating Rules are voted on by Nacha members following extensive input from Nacha’s Rules & Operations Committee. The need for change is evaluated based on marketplace needs and feedback from payments industry participants via a Request for Comment process. Between passage of a successful ballot and the implementation date, education becomes key. In 2020, Nacha implemented amendments pertaining to Warranty Claims, Data Security, and Reversals & Enforcement. Instructors in this session explain these changes, how proposed rule changes are evaluated by members and their impact on legal and compliance matters.
Ivy Gupta, Senior Associate General Counsel and Senior Vice President, Truist Financial Corporation
Jennifer Stokley, Senior Counsel, Wells Fargo
Matthew C. Luzadder, Partner, Kelley Drye & Warren LLP