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NAFCU Supportive of NACHA Risk Management Efforts

NAFCU wrote NACHA generally in favor of its Transaction Origin Identification Proposal, part of a NACHA initiative to implement a comprehensive risk management strategy.

By Staff Writer | Updated on August 21, 2007

ARLINGTON, Va.–NAFCU wrote NACHA generally in favor of its Transaction Origin Identification Proposal, part of a NACHA initiative to implement a comprehensive risk management strategy.

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

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