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January 31, 2011

NACHA's revamped rules, guidelines up

ACH network participants should note that NACHA's 2011 Operating Rules and Guidelines, updated to provide an easier, more user-friendly experience, are now available via the company's website.

The new rules and guidelines went into effect Jan. 1 as a result of the Rules Simplification initiative. NACHA said that the focus of the initiative was to streamline how its rules and guidelines were organized, placing a much stronger emphasis on the rights and responsibilities of ACH Network participants. At the same time, the company adopted new language aimed at helping participants more easily understand what they need to comply with. Ultimately, the goal was to make the compliance process easier.

NACHA President and CEO Janet Estep said that the rules and guidelines were revised to complement one another, with the new rules providing a more "intuitive framework for the user." The updated guidelines, she said, provide users with "clearer and more direct guidance on the rules."

The new guidelines omit specific chapters on functional responsibilities but include new appendices for reference materials. There is also a section on general information that is relevant to all ACH participants.

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