CM: Enhancement Request to Implement The Nacha Operating Rules Changes For ACH Entries
(Doc ID 2664340.1)
Last updated on OCTOBER 18, 2021
Applies to:PeopleSoft Enterprise FIN Cash Management - Version 9.2 and later
Information in this document applies to any platform.
Is there a plan to handle Nacha Operating Rules changes for ACH entries.
This Rule modifies the following areas of the Nacha Operating Rules:
Article One, Section 1.6 (Security Requirements) to require each Non-Consumer Originator that is not a Participating DFI, each Third-Party Service Provider, and each Third-Party Sender, whose ACH Origination or Transmission volume exceeds 6 million Entries annually to protect DFI Account Numbers used in the initiation of Entries by rendering them unreadable when stored electronically.
Phase 1 – June 30, 2020 for Originators and Third-Parties with ACH volume greater than 6 million in 2019
Phase 2 – June 30, 2021 for Originators and Third-Parties with ACH volume greater than 2 million in 2020
Implementation for those Originators and Third-Parties that currently would not be compliant
For ODFIs, informing Originators of their direct compliance obligations
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