WASHINGTON (6/4/13)--NACHA--The Electronic Payments Association is seeking comment on its plan to more clearly define who is considered a third party within the Automated Clearing House (ACH) Network.
The proposed amendment to NACHA rules would clarify the definitions, roles, and responsibilities of third-party service providers and/ or third-party senders on ACH transactions. The proposed clarifications are intended to strengthen compliance with NACHA operating rules among ACH participants.
Comments will be accepted by NACHA through June 28. The Credit Union National Association will be reviewing the proposal with the CUNA Payments Policy Subcommittee.