ARLINGTON, Va.–NAFCU wrote NACHA generally in favor of itsTransaction Origin Identification Proposal, part of a NACHAinitiative to implement a comprehensive risk managementstrategy.

NACHA's proposal would require that a recognizable name of theACH transaction originator be provided in the company name field.Originators would have to provide phone lines for customer serviceinquiries and include them in the ACH record for use by theReceiving Depository Financial Institutions. Finally, third-partysenders must be identified under the proposal.

“NAFCU generally supports the Proposal as a means to lower thenumber of ACH transactions that are returned as unauthorized…”NAFCU's letter, signed by Senior Vice President of GovernmentAffairs Dan Berger, read. He noted that NAFCU had heard of problemsfrom its member credit unions aS RDFIs.