Nacha Rules Changes and Updates for 2023 and the Future!
Speaker: Donna K Olheiser, AAP
Speaker Designation: VP of Education & Founder, Dynamic Mastership
Speaker: Donna K Olheiser, AAP
Speaker Designation: VP of Education & Founder, Dynamic Mastership
The Nacha Operating Rules are always changing! With the COVID-19 situation behind us, Operations Bulleting #1-2022 the deadline on the Rules and changes at financial institutions with extensions of effective dates (due to COVID-19). Operations Bulleting #2-2022 discusses that beginning mid-September 2022, the ACH Operators - the Federal Reserve and The Clearing House - will implement additional late-night deliveries of ACH files to all Receiving Depository Financial Institutions (RDFIs).
Compliance with the constant Nacha Operating Rules changes makes this a “must-attend” session!
An overview of recent big changes in 2021, such as “Limitation on Warranty Claims", "Meaningful Modernization", "Reversals and Enforcement". Included will be the recently repurposed Return Reason Code R11, and the last increase to Same Day ACH (SDA) dollar limit. Details on "Third-Party Roles and Responsibilities" (effective in 2022) will also be discussed.
Nacha Operating Rules changes affect you as a participant in the ACH network, whether you are an ODFI, an RDFI or a TPS or TPSP. Returning ACH Entries as Unauthorized Returns has a new repurposed Return Reason Code R11. As the RDFI, are you prepared for the proper use of R10 and R11 (what to do if you’re not ready) and as the ODFI, are you aware of changes to the ODFI Reporting Requirements for R11 and the Unauthorized Entry Fee with R11? Discussion includes how the Unauthorized Entry Fee could go through changes in the fall of 2022.
Donna founded Dynamic Mastership, LLC in December 2014 in an effort to utilize her 24+ years’ experience in the financial services industry, by sharing her passion for training financial institutions and organizations on the Rules and processes for electronic payments (with her specialty being ACH payments). She holds the Accredited ACH Professional (AAP) designation (achieved in 2004). Donna’s experience before founding Dynamic Mastership, includes 9 years' serving as the Education Service Director at a Regional Payments Association (RPA), where she managed and facilitated the entire Education program for nearly 800 financial institution members. Prior to that, Donna spent 14 years with the Federal Reserve Bank of Minneapolis in various departments, where she started her training career as the Training and Development Specialist in 2003.
Donna is a certified Master Trainer who continually uses her extensive knowledge, experience, enthusiasm and passion for transferring payment processing details, while using the adult learning theory is remarkable! Her training style has helped many payment professionals remain consistently informed of the NEW and ever-changing NACHA Operating Rules and explaining how the Rules apply when performing daily operational tasks including complex return and exception processing. She incorporates scenarios and examples in her detailed training, so the Rules are easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event helps the adult learner apply what they've learned during and after each training session.
