What Is the Legal Framework for ACH?
Participants in the ACH network must abide by the ACH Rules published by the NACHA. The ACH Rules define the required methods, procedures and record specifications for the processing of commercial ACH transactions.
Federal Regulation E places additional obligations on the RDFI and defines consumer rights regarding all electronic payments. The Uniform Commercial Code Article 4A (UCC-4A) places requirements upon ODFls originating wholesale credit (corporate) transactions as well as the RDFls that receive such entries. Federal Government payments must also conform with certain Codes of Federal Regulation commonly referenced in The Green Book.
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