NACHA Rule Changes

Effective: 2015-01-01

• This Rule makes explicit a Third Party Sender’s existing obligation to monitor, assess and enforce limitations on their customer’s origination and return activities in the same manner as the Originating Depository Financial Institution (ODFI) does today.
• The Rule also requires that a Third Party Service Provider or Third Party Sender provide proof of completion of its Rules compliance audit to its ODFI upon request, in order to fulfill a request from NACHA. Failure to comply with this requirement may result in a NACHA Class II Rules violation, and fines up to $100,000 per month until resolved.

Effective Date: 2015-01-01 12:00 am