On August 1st, Nacha will implement the second phase of the ACH Contact Registry Rulemaking that effectively enforces the Rule.

Previously, only Originating Depository Institutions needed to register contact information. Under the updated Rule, all financial institutions, including those who act as only Receiving Depository Financial Institutions, must register appropriate contact information on the Nacha Risk Management Portal.

As of August 1st, banks that do not register their required contact information on the Nacha Risk Management Portal may be subject to a Class 2 violation and its correlating enforcement proceeding and fines. If your bank has not updated its contact information on the portal, you can do so here.

If you have any questions on any part of your ACH program, please reach out to CCI.

Sincerely,

Sarah Smith, CRCM, CAFP