NACHA PARTNERS WITH BETTER BUSINESS BUREAU ON “DATA SECURITY- MADE SIMPLER,”

PROVIDES TOOLS FOR YOUR SMALL BUSINESS CUSTOMERS



ACTION REQUESTED

NACHA has joined the Better Business Bureau (BBB) and its partners Symantec Corporation, Visa Inc., and Kroll’s Fraud Solutions in a national education initiative called Data Security—Made Simpler.

Data Security—Made Simpler was designed with the small business owner in mind. Please visit http://www.bbb.org/data-security/ and familiarize yourself with available materials. We encourage you to download these resources to incorporate them into your small business educational efforts. 

You may download and reproduce a PDF version of the Data Security Guide by visiting

ACTION REQUESTED

NACHA invites nominations for the 2010 George Mitchell Payments Systems Excellence Award, the 2010 Kevin O’Brien ACH Quality Award and the inaugural NACHA PayItGreen Award. Please submit nominations using the form provided (include supporting documentation) to Mary J. Yerkes at NACHA via e-mail to myerkes@nacha.org no later than March 3, 2010.


EXECUTIVE SUMMARY

George Mitchell Payments System Excellence Award

The George Mitchell Award, named after the late George Mitchell, former vice-chairperson of the Board of Governors of the Federal Reserve System and early electronic payments proponent, is presented annually to an individual or organization that has shown superior leadership in the development, implementation, or advancement of electronic payments.

Kevin O’Brien ...

Social Security Sending Corrected Benefit Notices

 
The Social Security Administration earlier this month mailed notices that contained incorrect January 2010 payment dates.  These erroneous notices went to about 6 million beneficiaries who receive their payments on either the second, third, or fourth Wednesday of each month, and are part of the annual benefit notices that go to 52 million Social Security beneficiaries.  In the notice the payment date is incorrectly shown as one week before what the actual date of payment will be.  The other information in the notice, including the payment amount, is correct.  Social Security is sending a letter explaining the error to beneficiaries who received the incorrect one as soon as possible.

“We apologize for the inconvenience and confusion these incorrect notices will cause,” said Michael J. Astrue, ...

RULEMAKING PROCESS - CALL FOR NOMINATIONS

E-Check Enhancements Rules Work Group
 

Action Requested

Please submit nominations using the attached form no later than Friday, January 8, 2010 to the attention of Maribel Bondoc, Manager of Network Rules, NACHA, fax: (703) 561-1056 or e-mail: mbondoc@nacha.org.
 

Background

The Rules & Operations Committee has approved the formation of a new Rules Work Group for e-check enhancements. This group will evaluate and propose several enhancements to existing e-check SEC Codes.

 
All proposals in the Rule Making Process are categorized by the Committee according to their probable impact on ACH p ...

Action Requested
 

This information is provided for informational purposes. Your organizations, and those of your members/customers, are invited to participate in a nationwide cyber attack simulation exercise February 9 - 11, 2010. The exercise is being conducted to test the ability of financial institutions, processors, and other payment systems industry partners to respond to and recover from major cyber attack incidents impacting payment processes.   <more>

Action Requested

This communication is provided for informational purposes.
 

Update

As a follow up to our Members' communication of November 12, 2009, titled "Phishing Alert from NACHA," NACHA felt it prudent to provide our Members with an update on this topic. You may be aware that NACHA is one of several national organizations to have its web site and e-mails fraudulently mimicked by cyber-criminals.

FOR YOUR INFORMATION:
 

Since the publication of the 2009 edition of the ACH Rules, NACHA’s Voting Membership has approved two additional amendments to the NACHA Operating Rules (Rules).

1.      The ACH Data Review Rule provides a framework within the Rules for NACHA to receive additional data regarding ACH entries from the ACH Operators to support NACHA’s current role in Rules enforcement and ACH Network Risk Management. This amendment becomes effective on December 18, 2009.

2.      The Direct Access Registration Rule, which becomes effective on June 18, 2010, requires an ODFI to register its Direct Access debit status with NACHA, and to provide NACHA with specific information about each Direct Access debit relationship.

Each of the ...