NACHA’s Meaningful Modernization Rule: A Close Look at the Changes for Consumer Debit Authorizations and more
This episode covers upcoming changes to the NACHA Operating Rules as part of the Meaningful Modernization rule which takes effect September 17, 2021. We discuss the payments environment leading to the changes, new disclosures for consumer ACH authorizations, use cases and requirements for Standing Authorizations and changes for Oral Authorizations. We also touch on the amendments related to proofs of authorization and Written Statements for Unauthorized Debits.
Ballard Spahr Senior Counsel Alan Kaplinsky hosts the conversation, joined by Jennifer Aguilar, an associate in the firm’s Consumer Financial Services Group.
