04-EA-07: NACHA: Returns for Authorized Debits to Consumer Accounts Using an Improper SEC Code

Recently, NACHA—The Electronics Payments Association (NACHA) issued a proposed rule to modify the provisions of the Operating Rules to allow unauthorized entries that are transmitted to consumer accounts and incorrectly bear corporate Standard Entry Class (SEC) Codes (CCD, CTX, or CBR) to be returned within a sixty-day time frame.

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