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 ...

Action Requested

Direct FI Members, Regional Payments Associations, and ACH Operators are invited to submit nominations of individuals to serve on the Risk Management Advisory Group (RMAG) for two years beginning November 1, 2009. Direct FI Members and ACH Operators may nominate employees of their organizations. Regional Payments Associations may nominate employees of their associations and of their financial institution members.

 

Nominations must be submitted by close of business on Monday, August 31, 2009 to Cathy McNickle at cmicnickle@nacha.org or 703-787-0996 (fax). A nomination forma can be found below.

 

Executive Summary

RMAG is dedicated to establishing best practices for risk managemen ...

ODFIs: Keylogging Attacks
Fraudsters May Be Looking at Your Customers For a Way Into ACH

ODFIs’ customers are being attacked by malicious software in which perpetrators are increasingly using rootkits (programs designed to hide or obscure the fact that a system has been compromised) to mimic the look and feel of legitimate financial institution websites. Users provide their credentials, without knowing that it is the perpetrator behind the website.

Some of the malicious software, also known as malware, infects computers by keystroke logging or keylogging. This allows the criminal to obtain user ID and password, which leads them to information about account balances, activity and potential victim accounts. Other viruses are more robust by logging user ID and password, alerting the perpetrator when the legitimate user has provided those credentials. T ...

FOR YOUR INFORMATION:

 

Since the publication of the 2009 edition of the ACH Rules, NACHA’s Voting Membership has approved a number of changes to the NACHA Operating Rules (Rules) that have minor impacts on the ACH Network. In general, minor impact issues fall within Category C under the Rule Making Process and include: 1) editorial changes to address corrections to grammar and similar errors; 2) changes to correct inconsistencies between various rules; 3) clarifications of intent; 4) minor modifications to incorporate current practices (e.g., Operator edits, return code descriptions); and 5) changes that involve minor software modifications.

These amendments are grouped into categories based on their effective dates. The first set of amendments became effective on June 19, 2009. The second set will become effective on September 18, 2009. The third set of modificat ...

NACHA Risk Alert: Notification of ACH Data Breach Incident

July 7, 2009


ACTION REQUESTED

For your information, an ODFI in Cedar Rapids, IA has informed NACHA of a breach of consumer-level data in accordance with NACHA’s Interim Policy on ACH Data Breach Notification Requirements.  NACHA has provided both ACH Operators a list of affected RDFI routing numbers and contact information of the designated ODFI security representative for communications to RDFIs. The ACH Operators will follow their respective procedures to notify their ACH services customers. Copies of both ACH Operators’ alerts will be posted on the members-only portion of the NACHA website as soon as they are made available to NACHA.


This particular incident involves breached data containing the bank account number and bank ro ...

FOR IMMEDIATE RELEASE

NACHA Announces U.S. – International Committee Inaugural Meeting July 14-15 in Herndon, Virginia
Committee Focuses on U.S. Interests in International Payments

HERNDON, Va. – July 2, 2009 – NACHA – The Electronic Payments Association announces the formation of the U.S. – International Committee, which has been established as part of its Global Payments Forum to focus on U.S. stakeholders’ interests in international payments. The group will hold its inaugural meeting July 14-15, 2009 in Herndon, Virginia at the NACHA office. Participants at the initial meeting will have an opportunity to set the direction of the committee, identify and prioritize deliverables, establish and lead workgroups, and influence committee activities all focused on enabling U.S. businesses and financial institutions to seamlessly particip ...

BALLOT RESULTS

On Friday, June 12, 2009, the NACHA Voting Membership approved Ballots #5-09, 6-09, 7-09, 8-09 and 9-09, all of which consisted of Category C Minor Impact changes to the NACHA Operating Rules.

• Ballot # 5-09 was approved with 96.2 percent of the weighted votes cast. Thirty-three members voted in favor of the ballot, and 1 voted against.
• Ballot # 6-09 was approved with 98.9 percent of the weighted votes cast. Thirty-three members voted in favor of the ballot, and 1 voted against.
• Ballots # 7-09, 8-09 and 9-09 were approved with 100 percent of the weighted votes cast. Thirty-four members voted in favor of the ballots, and none voted against.
• Thank you for taking the time to review the rules and cast your vote.

Executive Summary

The Rules and Operations Committee is overseeing the reorganization and modification of the Rules.   NACHA is targeting October 1, 2009 to issue a Request for Comment to the members and the industry on the reorganized and rewritten Rules.

As part of the development of the rewritten Rules, the Rules & Operations Committee is requesting assistance from participants in reviewing sections of the NACHA Operating Rules as they are revised. These focus groups will meet via conference call to review and provide input to the Committee.  The number and composition of the focus groups will depend on responses received. 

Action Requested

Please respond by Friday, May 22, 2009 to Debbie Barr if you are interested in participating in a focus group to review re-organized sections of the NACHA ...