|
|
New Risk Management and Assessment Rule effective June 18, 2010 |
|
|
|
|
|
|
Currently the ACH Rules have limited requirements for ODFIs related to risk management practices. These Rules require ODFIs to establish, review, and monitor exposure limits for their Originators' ACH activity. On May 1, 2009, NACHA’s Voting Membership approved a Risk Management and Assessment Rule which becomes effective on June 18, 2010. This change will explicitly require, within the Rules
|
 |
|
|
More...
|
|
|
Rules Simplification Ballot Passes |
|
|
|
|
|
|
On Friday, April 23, 2010, the NACHA Voting Membership approved the following ballot:
- #1-10: Rules Simplification – Effective January 1, 2011.
Ballot #1-10 was approved unanimously with 100 percent of the weighted votes cast (9,452 of the 10,000 available votes were cast). Thirty-eight of the forty-two voting members cast votes in favor of the ballot.
|
|
|
|
|
|
|
|
NACHA Top 50 Lists for 2009 |
|
|
|
|
|
|
NACHA has released their Top 50 Lists for 2009. The NACHA top 50 originating financial institutions accounted for 88.3 percent of the total ACH transaction volume and 95.9 percent of the commercial (non-federal government) ACH transaction volume in 2009. Those in the top 50 on the receiving side accounted for 55.6 percent of the total ACH transaction volume in 2009.
The NACHA top 50 originating financial institutions yielded 13.54 billion transactions in 2009. The top five originating institutions made up 61.9 percent of the ACH transaction volume, up slightly from 61.6 percent in 2008. The top ten originating institutions accounted for 73.5 percent of the total ACH transaction volume, reflecting figures similar to those of 2008.< ...
|
|
|
|
|
More...
|
|
|
Register for The Payments Institute |
|
|
|
|
|
The Payments Institute
June 13-17, 2010 - Scottsdale, Arizona / July 18-22, 2010 - Atlanta, Georgia
Knowledge. The greatest investment you'll ever make.
Now more than ever, it's time to invest in your career and your future as a payments system professional. Do you need to refresh your ski ...
|
|
|
|
|
More...
|
|
|
NACHA Partners With Better Business Bureau |
|
|
|
|
|
|
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 http://www.bbb.org/data-security/Data_Security_Made_Simpler.pdf.
BACKGROUND
BBB’s Data Security—Made Simpler provides small and medium busi ...
|
|
|
|
|
More...
|
|
|
Social Security Sending Corrected Benefit Notices |
|
|
|
|
|
|
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, ...
|
|
|
|
|
More...
|
|
|
Cyber Attack against Payment Processes (CAPP) Exercise |
|
|
|
|
|
|
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>
|
|
|
|
|
|
|
|
Follow-Up to November 12, 2009 Phishing Alert from NACHA |
|
|
|
|
|
|
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.
|
|
|
|
|
|
|
|