Starting Sept. 29, 2017, credit unions and other financialinstitutions that originate ACH transfers must start identifyingand registering their third-party sender customers with NACHA,according to an announcement this week by the organization, whichsets the rules for and administers the ACH network.

Third-party senders are processing intermediaries betweenfinancial institutions and the end users of ACH payments. Under thenew rule, credit unions and other originating depository financialinstitutions on the ACH network will have to provide the names andcontact information for every third-party sender they have arelationship with; ODFIs that don't have third-party senderrelationships must provide statements to that effect, according toNACHA.

The registration process will promote customer due diligence andhelp maintain the quality of the ACH network, NACHA said.