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Nacha's ACH Operations Bulletin #1-2023

Source: Nacha
Nacha has recently updated their sample WSUD to include a new disclosure.

Earned Wage Access

The fastest growing use case on the RTP® network is real-time pay and earned wage access (EWA). Listen to this podcast and learn more about this growing payroll trend

Payments Education

Guest Speaker Series:

We’ve invited industry leaders to speak to our member regarding topics that have been on your mind. Check out these upcoming sessions!
APR
25

Crypto – You Can Bank on That!
MAY
4

The Politics of Payments
MAY
11

Considerations in a 24 x 7 x 365 World

Meet us in Person in Chicago on June 5th!

JUNE
5

In-Person AAP/APRP Alliance Meeting
JUNE
5

Payments on the Move Roadshow

Hear from your association and peers to understand how payments innovation impacts future plans at your organization

TCHPA Education:

MAY
17

Payments University
MAY-JULY
25-6

APRP Exam Prep Webinar Series

Registration closes on May 24th at 5PM

TCHPA ACH Programs

Are you ready to become an AAP? Check out our “How to Successfully Become an AAP” document, filled with tips from our very own instructors! To jumpstart your studies TCHPA has a “Certificate Program” designed specifically for ACH and will help you cover the basics of ACH Fundamentals, to more advanced topics such as Third-Party Senders. A Certificate of Completion is awarded to all attendees who order and consume webinars and pass a test to demonstrate their understanding in the designated category.

TCHPA Resources:

APRP Study Resources

Are you sitting for the APRP Exam in 2023? Check out these resources to help you prepare:

  • ACH Risk Management Handbook
  • Risk Pro - a self-paced online learning tool
  • APRP Flashcards

ACH Board Reporting

Reporting provided to your Board of Directors or Supervisory Committee gives a snap-shot of your financial institution's payments activity and can be a place to demonstrate how your ACH activity matches up to your current institution's financial adequacy. Check out our Reporting provided to your Board of Directors or Supervisory Committee gives a snap-shot of your financial institution's payments activity and can be a place to demonstrate how your ACH activity matches up to your current institution's financial adequacy. Check out our “ACH Board Reporting Document” to help you pinpoint what information should be provided on a periodic basis.

Victoria P. from United Bankshared with us her recent read of the “OCC 2006 ACH Risk Management Guide” This handy resource reminds all of us that being able to demonstrate that when the percentage of your deposit base that is linked to your ACH Origination Activity is in a ratio amount that fits your institution's risk profile, it can be a huge relief for management to see.


We Get Questions...


Regulatory

 Q and A
Q.)  What's the difference between the Uniform Commercial Code (UCC) 4 & 4A?
A.)  The Uniform Commercial code is a set of laws that are adopted by each individual state. These laws have several different articles, but only a few are referenced frequently in the payments world, including but not limited to, UCC 4 and UCC 4A.

UCC 4 is one of two articles that are heavily relied upon in the check world.. UCC 4 covers Bank Deposits and Collections and is a fantastic resource when determining liability of a financial institution related to action taken or not taken in regards to an item that they handled, as it relates to presentment, payment, or collection.

UCC4A applies to funds transfers, and identifies the roles, responsibilities, and rights for all participants in said funds transfer. "Funds transfer" is defined to include wire transactions, B2B instant payments, and B2B ACH credits. UCC 4A does not apply to "electronic funds transfers" governed by the Electronic Fund Transfer Act (Regulation E, Subpart),(UCC 4A-108).

The above Q&A is provided for informational purposes only and does not constitute legal advice.

Member Support

TCHPA Fact Sheet

Remember, when you need support from The Clearing House Payments Authority (TCHPA), you can reach our Member Services staff directly by calling 800-875-2242 and choosing option 3, or by emailing education.services@theclearinghouse.org.

Professionals in every trade have an association they rely on for industry expertise, support and resources. We're the Association for Payments People.

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