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Webinar: NACHA Rules Versus Reg E Rules: Which Takes Legal Priority in Which Situation?

 

 

Tuesday, September 23, 2014

2:00 - 3:30 pm CST

 

Speaker: Elizabeth Fast, Spencer Fane Britt & Browne, LLP

 

About the Program

Both NACHA and Reg E impose many responsibilities and deadlines – but rules are different. The credit union’s liability varies depending on which rule applies and oftentimes both rules will apply. For example, what if the transaction started out as a paper check but was converted to an ACH debit entry? Would NACHA, Reg E, or both apply? To the unwary, the rules may appear to be the same because both sets use a 60-day period for consumer transactions. Unfortunately, the start dates of the 60-day periods are different. There is a “dead zone” where the credit union can’t return an unauthorized ACH through NACHA, but is still liable to reimburse its member under Reg E.

 

This webinar will explain the NACHA rules regarding the proper return of unauthorized ACHs through the NACHA system and the Reg E rules regarding the proper handling of unauthorized ACHs. It will clarify this complicated, confusing legal area so you will know which rule applies in which situation.



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