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Payments Pulse - December 4th Edition

Payments Pulse
Payments Pulse, December 4, 2019
The Clearing House
Payments Pulse

Industry News & Resources

Business Continuity Management Booklet

Source: FFIEC IT Examination Handbook

Top Cybersecurity Trends That Will Shape 2020

Source: CyberArk

Payment Card Fraud Rates in the US…Since Migrating to Chip

Source: Federal Reserve Kansas City

Keeping Control of Remote Deposit Capture Risks

Source: Independent Banker


We Get Questions...

Q and A
Q.)  One of our commercial customers originated a payroll effective for Friday. On Thursday, they notified us of a fraudulent item in the payroll batch so we originated a reversal which was also effective on Friday. We called the RDFI who told us they had released the payroll credit to the receiver on Thursday (ahead of the effective date) and could not honor the reversal due to insufficient funds in the account. Is this permissible? Should they have to allow the reversal, since they voluntarily provided early credit?
A.)   By posting early the RDFI is taking on risk of non-settlement, but the ACH Rules are silent on posting credits early (they just can’t be posted late). If the funds aren’t in the account, the RDFI can return the reversal (NSF). Keep in mind that as the ODFI you warrant that transactions are valid at the time of origination and therefore, the RDFI would not be out of compliance with the Rules.
Have a question for TCHPA? Call 800-875-2242 (choose option 3) or email education.services@theclearinghouse.org.

ACH Alert Case Study
Bank Decreases Fraudulent Wire Transfers with Biometric Verification Technology

This resource was recently offered by Debbie Peace of ACH Alert during her Trending Now webinar titled ‘How Voice Biometrics Can be Used in a Layered Security Approach’. That session recording is now available to order on-demand and TCHPA members are invited to download the no-charge case study on the ACH Alert website.

ACH Rules Update Webinar
2019 and Beyond Now Available On-Demand

If you missed our recent ACH Rules Update live webinar, you’re in luck. The session was recorded and is available to order on-demand. A review of the ACH Rules that went into effect in 2019 as well as those that will go into effect through 2021 were presented and discussed.


Remember, all TCHPA-presented workshops, webinars and on-demand sessions are available at no charge for members! You need only login, choose your session and checkout.

Upcoming Education

DEC
13

2020 TCHPA Education Preview

(Webinar)
DEC
17

Nacha Webinar: Curing the Appendicitis After Removing Appendix Eight

Significant savings when you register via the TCHPA
JAN
7

2020 NCP Exam Prep Webinar Series

Real-Time Payments

What's in it for you?

Roadmap to RTP On-Demand Webinar
The Roadmap to RTP 4-part series will help all financial institutions move from the RTP planning stage to execution, and includes four 60 minute recorded webinars that address key concepts and steps related to becoming an RTP network participant. This course is ideal for those with a need to fully understand the specifics of RTP who are ready to move from the conceptual to the practical. Details and Order Instructions

RTP In the News:

Jack Henry Offers Vehicle to Provide Real Time Payments

Source: The Monett Times

Banks, FinTechs Connect Businesses To Real-Time Payments

Source: PYMNTS.com

TCHPA: 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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Winston-Salem, NC 27107
United States

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