Board of Directors
Become a NAFCU Member
NAFCU Employment Opportunities
Together we are strong. Join NAFCU now and get 1/2 off your 2015 membership dues.
Watch the Video
Legislative & Regulatory Issues
Annual Privacy Disclosure Notices
CFPB's Qualified Mortgage Definition
Credit Union Tax Exemption
Defense Credit Union Issues
Housing Finance Reform
Member Business Lending
Regulatory Comment Letters
Legislative Policy Letters
Beltway Buzz Enewsletter
The Regulatory Affair Enewsletter
Grassroots Action Center
Evaluate the new proposed RBC rule's affects on your credit union with member resources.
Regulation & Compliance
Contact the Compliance Team
CFPB Mortgage Rules Compliance
Monthly Compliance Enewsletter
Quarterly BSA Enewsletter
Book of Answers
Compliance GPS Manual
NAFCU Compliance Blog
Additional Compliance Resources
Compliance Resources Search
Compliance Certification Program
Become an NCCO
Purchase or Retake Exams
Maintaining Your NCCO
Submit Non-NAFCU Programs for Credits
NCCO Program Frequently Asked Questions (FAQs)
NCCO Compliance Support Package for State-Chartered CUs
FinCEN Goes After Former Chief Compliance Officer for BSA Violations. Read more in the latest BSA Blast.
Data & Research
Economic & Credit Union Industry Trends
CU Industry Trends Quarterly Report
Economic and CU Research Enewsletter
Macroeconomic Data Flash Reports
NAFCU Annual Report on Credit Unions
Credit Union Federal Tax Exemption Study
Participate in Credit Union Research Surveys
Measure Your CU Financial Performance
Credit Union Capital Management Tools
CU Data & Research Publications
Economic Data & Forecast Web Links
Updated Risk-Based Capital calculator available for download.
Get it now
Education & Conferences
Strategic Growth Conference
Regulatory Compliance School
CEOs and Senior Executives Conference
Board of Directors and Supervisory Committee Conference
Annual Conference and Solutions Expo
Risk Management Seminar
Management and Leadership Institute
Regulatory Compliance Seminar
Online Training Center
Live and On-Demand Webcasts
Compliance Webcast & Online Training Subscription
Board of Directors and New Staff Online Training Subscription
Management and Leadership Series
Online Training Center All Access Pass
Certification & Training Certificates
NAFCU Certified Compliance Officer (NCCO) Program
Financial Literacy Training Certificate
BSA Training Certificate
Supervisory Committee Training Certificate
Credits for CPAs
Advertise & Exhibit
Enroll today for comprehensive CU compliance training.
About NAFCU Services
Preferred Partners A-Z
Growth and Retention
Financial and Insurance
Infrastructure and Operations
Training and Compliance
Live Webinar Schedule
NAFCU Services Blog
Become a Preferred Partner
Browse free educational resources for credit unions.
Visit the Partner Library
NACHA approves enhanced ACH network security
NACHA approves enhanced ACH network security
August 28, 2014
Aug. 28, 2014 – NACHA – The Electronic Payments Association announced Tuesday that its voting membership approved two new amendments to its operating rules in an effort to further improve clearinghouse network quality by reducing the incidence of exceptions and returns.
are part of NACHA’s risk management strategy. Their aim is to protect the safety, security and integrity of the ACH network and the consumers, governments, businesses and financial institutions that move their money via ACH.
One of the amendments has to do with ACH network risks and enforcement topics. The rule expands NACHA’s authority to initiate enforcement proceedings against originators that introduce unauthorized transactions into the network and sets additional standards for the use of the network to collect debits returned for insufficient funds. Specifically, the amendment reduces the existing return rate threshold for unauthorized debits from 1 to 0.5 percent, establishes a 3 percent return rate threshold for account data quality returns, and a 15 percent overall debit return rate threshold.
The other NACHA amendment, approved Tuesday, relates to improving ACH network quality. The rule would establish economic incentives for originating depository financial institutions, or ODFIs, and their originators to improve origination quality and provide partial cost-recovery to receiving depository financial institutions, or RDFIs, for handling unauthorized transactions.
to NACHA in January on the two rules, noted that it “generally supports NACHA’s efforts to enhance ACH security and reduce the incidence of fraudulent and erroneous entries,” while noting that some of the provisions related to third-party senders could cause an unnecessary burden for ODFIs.
NAFCU continues to work with NACHA on ensuring the security and efficiency of the ACH system, particularly in light of recent data breaches and cybersecurity issues.
"Enhanced ACH network security, efficiency urged by NAFCU" 1/14/14
Reg relief tops McWatters' priorities
Long: Lower credit card delinquency rates good for CUs