NACHA Operating Rules and Guidelines Simplified
NACHA, the electronic payments association, has released a reorganised format and clearer, user-friendly language of its Operating Rules and Guidelines, as the result of the Rules Simplification Initiative. The 2011 NACHA Operating Rules and Guidelines, introducing the new elements of Rules Simplification, are now available.
Rules simplification impacted both the NACHA Operating Rules and the NACHA Operating Guidelines. The initiative transformed the organisation of the rules, structuring them around the rights and responsibilities of participants in the ACH Network. In addition, clear, understandable, and consistent language was adopted throughout the rules. The NACHA Operating Guidelines also were reorganised to align with the simplified NACHA Operating Rules and were restructured to address key, universal topics, consolidate discussions on similar topics, and eliminate redundant material.
“The changes to the format and structure found in the simplified rules create a more intuitive framework for the user, and the updated guidelines provide users with clearer and more direct guidance on the rules,” said NACHA president and chief executive officer (CEO) Janet Estep. “Rules simplification supports the efficient and innovative use of the network.”