Did you know that the Originating Depository Financial Institution (ODFI) can still be liable for an unauthorized ACH withdrawal long after the NACHA return deadlines? Although the Receiving Depository Financial Institution (RDFI) can’t recover funds through the NACHA network via return entries after the return deadline, the RDFI can obtain reimbursement from the ODFI under a breach-of-warranty theory through other legal methods. This webinar will explain the NACHA rules regarding the proper return of unauthorized ACHs through the NACHA system, and how to legally recover unauthorized ACH withdrawals after the NACHA return deadlines.
- Return deadlines for consumer and corporate accounts
- When a late claim can be submitted through the NACHA system
- Reg E and NACHA rules conflicts and how to handle them
- Bringing a breach-of-warranty claim against the ODFI
- Getting indemnity from the ODFI
- NACHA Operating Rules and Bulletins relating to breach-of-warranty claims and indemnification
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND?
This informative session will be useful for all deposit personnel, including loan operations staff and officers, tellers, service representatives, compliance officers, attorneys, and managers.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
|Over $75 million
|$25 - $75 million
|Under $25 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.
Upon registration, you will receive an email confirmation that you can print for your records.