NACHA is accepting comments on two proposed amendments to its Operating Rules through Monday, January 13, 2014. ACH Network participants are encouraged to respond.
NACHA's first proposal aims to strengthen existing risk management and rules enforcement provisions. The new rule would:
- Reduce the existing return rate threshold for unauthorized debits from 1.0 percent to 0.5 percent
- Establish a return rate threshold for account data quality returns at 3.0 percent, and an overall debit return rate threshold of 15.0 percent
- Clarify acceptable practices for collecting ACH debits returned for insufficient funds and other reasons
- Apply risk management rules to third-party senders.
The rule would also expand NACHA’s authority to initiate enforcement proceedings for a potential violation of rules related to unauthorized transactions. NACHA noted that unauthorized transactions within the ACH Network have a harmful effect on the network's integrity.
The second proposal would establish economic incentives for originating depository financial institutions (ODFIs) and their originators to improve the quality of the ACH transactions.
NACHA’s proposed incentives are fees that would be applied to instances when:
- An RDFI returns a transaction to an ODFI due to incorrect account data within the transaction
- An RDFI corrects information within a transaction and sends the correction back to the ODFI
- An RDFI returns an ACH transaction to an ODFI due to a problem with the receiver's authorization.
Fees would be paid by the ODFI and passed through to the RDFI to partially offset the RDFI’s cost for exception processing and customer service.