UCC4A Applications to ACH Payments, ACH Fraud Risk Management, and Contracts

Why Should You Attend:

UCC4A plays a significant role in the ACH Network and ACH transactions. UCC4A applies when EFTA / Regulation E does not. Financial institutions and business Originators of ACH need to understand the complexities of this state law, how it applies to transactions, and how liability for transactions is allocated.

Failure to comply with UCC4A can present significant legal and compliance risks to a financial institution. Likewise, a business should understand that when they sign a contract for ACH Origination services, what provisions of UCC4A are designed to protect them and how some liability can be shifted by contract.

Learning Objectives:

• Recognize terminology used in Article 4A and the NACHA Operating Rules
• Identify the enforceability of payment orders
• Record procedures for unauthorized entries and security procedures
• Resolve issues relating to duplicate and erroneous entries
• Locate provisions impacting potential liability, including the statute of repose, choice-of-law, contract provisions, liability shift, commercially reasonable security, and more.

Areas Covered in the Webinar:

• What is UCC4A
• How it affects ACH transactions and liability
• Types of transactions covered
• Enforceability of payment orders
• Unauthorized entries
• Commercially reasonable security
• Duplicate and erroneous entries
• Critical contract provisions
• The effects of Choice of Law
• UCC4A Disclosures

Who Will Benefit:

• Internal Auditors
• Risk Officers
• Director of Security
• Compliance Officers
• Compliance Professionals
• Operational Risk professionals
• CFO / Finance Professionals
• Board Members
• External Auditors
• Audit Committee Members
• Operational Risk Managers
• Departmental Managers
• Information Security
• Information Technology
• Fraud Investigators

Rayleen M Pirnie
CEO, RP Payments Risk Consulting Services LLC

Rayleen M. Pirnie, AAP is the founder and primary consultant of RP Payments Risk Consulting Services, LLC, a Missouri-based consulting firm that provides payments strategy and risk management advisory services across several sectors. She has almost two decades of experience in payments rules, risk management, and information security. She advises boards, C-Suite executives, and payments professionals on payments vulnerabilities, cyber-security, and processing strategies to align the organizations processes with payment network rules and regulator guidance. She analyses organizational strategies and processes to identify risk, recommend sound risk management practices, and assess an organizations payment security posture.

She is an Accredited ACH Professional and has her Bachelor’s in Criminal Justice Administration.

Rayleen has spoken at national and regional conferences for over 19 years on topics ranging from payments fraud to information security. Events include NACHA’s Payments Conference, the American Bankers Association Risk Management Forum, the Security Matters annual conference at Murray State University, the Risk Management Association, and the Federal Reserve Bank of Kansas City’s Risk Management Conference.

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