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NAFCU Reg Alert details Nacha RFI
NAFCU released a Regulatory Alert Friday, which details the National Automated Clearinghouse Association’s (Nacha) request for information (RFI) regarding automated clearinghouse (ACH) risk management and Nacha operating rules.
In the alert, NAFCU highlighted Nacha has implemented a new risk management framework, proposed seven changes to current ACH credit risk management, and two related to ACH debit risk management in response to increased credit fraud on the ACH network. Additionally, the Reg Alert noted that the RFI aims to gather input on four other potential changes to risk management as well as other risk management topics.
NAFCU noted Nacha believes the biggest fraud and scam threats “result in money being sent out of their accounts using credit payments, including ACH credits, wires, cards, and other instant and digital payments.” The association also remarked that Nacha hopes to provide more direction for initiatives, rules, guidance, and tools with a new risk management strategy.
Comments are due to NAFCU June 16; comments are due to Nacha June 30. Subscribe to receive Regulatory Alerts in your inbox.