• Mastering Error Resolution: Reg E vs Nacha Operating Rules
  • Mastering Error Resolution: Reg E vs Nacha Operating Rules

    • Speaker : Donna K Olheiser
    • Session Code : DRJUN1224
    • Date : 12th June 2024
    • Time : This Event is Over and the Recorded Content is Available
    • Duration : 90 Mins

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Navigating the intricacies of error resolution within electronic financial transactions requires a sophisticated understanding of the regulatory frameworks that govern these processes. This webinar is designed to provide a comprehensive exploration of Regulation E (Reg E) and the Nacha Operating Rules, essential regulations that dictate the standards for electronic fund transfers and the handling of disputes within the Automated Clearing House (ACH) network.


Regulation E, established by the Federal Reserve, is a cornerstone of consumer financial protection specifically tailored to electronic payments and transfers. It mandates strict guidelines for financial institutions to follow when errors are reported by consumers, ensuring that these errors are handled promptly and fairly. Understanding the scope and details of Reg E is crucial for professionals in the financial sector, as it delineates the procedures for investigating claims and the responsibilities for rectifying errors.


Parallel to Regulation E, the Nacha Operating Rules serve as the regulatory backbone for the ACH network, which facilitates a vast majority of electronic transactions in the United States. These rules provide a structured approach to handling transactions, including how errors and unauthorized transactions should be managed. The webinar will cover the key aspects of these rules, focusing on the responsibilities of financial institutions under this framework.


This session will also delve into the recent updates to both Reg E and the Nacha Operating Rules. With the financial landscape continually evolving, recent amendments have been made to these regulations to address new challenges and technological advancements in electronic banking. Understanding these changes is vital for maintaining compliance and optimizing error resolution processes.


Furthermore, the webinar will provide context on how these regulations affect day-to-day operations within banks and other financial institutions. It will highlight common compliance pitfalls and offer insights into best practices for error management, based on real-life scenarios and expert interpretations.


Participants will leave the webinar with a deeper comprehension of how Regulation E and the Nacha Operating Rules interrelate and impact the overall framework of error resolution. This knowledge is essential for enhancing operational effectiveness and ensuring robust consumer protection in the dynamic environment of electronic financial transactions.


Areas Covered during the session:


  • Timeframes for consumer when reporting errors to the financial institution
  • Consumer liability and responsibility for unauthorized transactions
  • Financial Institution liability and responsibility when handling errors to consumer accounts
  • Identify what is covered by Regulation E and what is not covered
  • List details on “What is an Error” in Reg E and the Nacha Operating Rules
  • Define the Error Resolution Process including timeframes
  • Outline the process when returning unauthorized transactions in the ACH network, including when to use R10 vs. R11 (due to recent Rules changes)


Why you should attend?


In the financial sector, adeptly handling unauthorized transactions and understanding the associated regulatory responsibilities is critical for compliance, consumer protection, and maintaining trust. This webinar provides an essential guide to navigating the complexities of Regulation E and the Nacha Operating Rules, crucial for any professional involved in the management of electronic payments and error resolution processes.


Participants will gain in-depth knowledge of Regulation E, which mandates a specific error resolution process for electronic payments affecting consumer accounts. The webinar will also cover detailed aspects of the Nacha Operating Rules, particularly how to handle unauthorized ACH transactions effectively, including strategic uses of the updated Return Reason Codes R10 and R11. This knowledge is vital for ensuring that financial institutions manage these situations with both compliance and efficiency.


Moreover, this session offers an opportunity to see these regulations in action through the examination of real-life scenarios, enhancing your practical understanding and ability to apply these rules effectively. By attending, you will enhance your skills in managing compliance-related challenges, reducing potential financial losses, and improving customer satisfaction through proficient dispute resolution.


Join us to step ahead in your professional capability, ensuring your institution remains compliant and ahead of regulatory changes in the dynamic landscape of financial transactions.



Who will benefit?


  • Compliance Officers
  • Risk Managers
  • Operations Managers
  • Financial Analysts
  • Bank Managers
  • Customer Service Managers
  • Audit Specialists
  • Legal Advisors in Financial Services
  • Treasury Professionals
  • Payment Processing Managers

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ experience. She has designed and facilitated over 150 training sessions each year with her expertise being the rules for companies and financial institutions when processing electronic (specifically ACH) payments, then scheduling the events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Ms. Olheiser is also an experienced project manager managing education programs for organizations processing electronic payments and developing personalized training programs for financial institutions.

She has over 23 years of experience in the financial services industry which includes 9 years’ experience as the education service director at a Regional Payments Association (RPA), where she managed and facilitated the entire education program for nearly 800 financial institution members. Prior to that, Ms. Olheiser spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).

Her extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Ms. Olheiser’s ability to engage the learner through the entire training event helps the adult learner apply what they’ve learned during and after each training session.

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Tags: Regulation E, Nacha Rules, Financial Compliance, Error Resolution, Compliance Webinar, ACH Transactions, Donna, Olheiser, June 2024,