Nacha Takes Aim At First-Party Fraud, Seeks Credit Union Input On New ACH Rules
By CU Today Staff —
WASHINGTON--Nacha, which governs the automated clearinghouse (ACH) network, is seeking information and feedback on first-party fraud, America's Credit Unions reported.
Respondents, including credit unions, are asked to provide information and perspectives on the scope and significance of first-party fraud, the roles and potential responsibilities of parties related to first-party fraud, and ways to mitigate the risk.
Nacha is also seeking comments on a specific proposal to amend its Operating Rules to provide additional context regarding a Receiving Depository Financial Institution’s obligation to "promptly” recredit a consumer receiver’s account upon receiving the receiver’s Written Statement of Unauthorized Debit, ACU said.
All ACH Network participants are encouraged to provide their comments on these topics, the proposed rule change, and the questions posed. Comments are due Dec. 11.
America’s Credit Unions said it is analyzing the request and proposal and will provide comments by Nacha’s deadline.
Originally reported by CU Today.