Recording Date(s): October & November 2023

Cost in Education Club tokens: 8 tokens

Speaker(s): UMACHA's Education Team

Length: 90 minutes each

Description: Join us as we discuss real member experiences, which can often be more hair-raising than fiction. Our goal is to shed light on practical scenarios that financial institutions are regularly dealing with, providing a platform for a deeper understanding of how the Nacha Rules may be effectively applied in practice. We'll also foster an exchange of ideas, with discussions on how to make informed judgment calls as we weigh the Rules vs Reality.

Includes the following webinars & documents:

• Rules vs. Reality (Part 1)
  • Topics Include:
    • Dealing with deceased Receivers:
      • Jack and Jill Both Paid Rent – Multiple accountholders authorize a payment without the other knowing, resulting in their account being debited twice.
      • The Suspicious ACH Credit – An RDFI receives a suspicious ACH credit, but the ODFI’s response raises additional questions.
      • Pesky Proof of Authorization – The proof of authorization provided by an ODFI doesn’t correspond with the account ownership at the RDFI.
• Rules vs. Reality (Part 2)
  • Topics Include:
    • The Closed Account – After closing an account due to fraud, an RDFI accidentally posts a debit received to the closed account to the accountholder’s new account.
    • The Spoofed Email – A discussion about the liability for Business Email Compromise with focus on a real-life case study.
    • Permission to Return R10 – An RDFI receives permission from an ODFI to return disputed transactions as R10, but it’s beyond the 60-day extended return time frame.
• Rules vs. Reality (Part 3)
  • Topics Include:
    • The Spoofed Email Follow-Up – An update on the status of the real-life case study about Business Email Compromise.
    • The Inattentive Receiver – A Receiver who only checks their account activity once a year spots multiple unauthorized ACH debits from several months ago.
    • The Erroneous ACH Debit – An ODFI’s request to an RDFI to return an ACH debit as R06 turns into a real headache.
    • Educating ACH Originators – A discussion about the rules and reality surrounding an ODFI’s obligation to educate their Originators about the Nacha Operating Rules.

• ​Upon completion of the purchase, the purchaser will be immediately prompted to download a PDF or zip file.  Each PDF will contain a link to view the purchased webinar(s).  Access to the recorded webinar(s) is limited to 60 days following the purchase.
• UMACHA is required to collect Sales & Use tax, in addition to Municipal tax (city tax), on the services that are provided in the state of South Dakota, and recorded webinars in the state of Minnesota.