UCC4A Primer for Businesses

Why Should You Attend:

In most commercial transactions, payment is accomplished through the use of a funds transfer. These transactions are subject to Article 4A of the Uniform Commercial Code, which has been adopted by all 50 states and governs the rights and obligations of all parties to the transfer. Article 4A is contract law, meaning once a business signs a contract they are generally bound to those terms. Too many businesses have suffered substantial losses because they did not understand the liability and obligations they are under when they signed the contract for funds transfer services.

This webinar is specifically useful for businesses using, or that plan to use, commercial funds transfer services. It will help attendees understand how Article 4A affects transfers, provisions that can be altered by contract, how liability for unauthorized transfers is allocated, and more.

Learning Objectives:

• Recognize terminology used in Article 4A
• Navigate sections of Article 4A
• Document the rights and obligations of each party in the transfer
• Discover what happens when things go wrong in a funds transfer
• Record how Article 4A assigns rights and responsibilities

Areas Covered in the Webinar:

• What UCC4A is
• How UCC4A affects payment transactions and liability
• Types of transactions covered
• What can be altered by contract with your bank
• What cannot be altered by contract with your bank
• The effects of Choice of Law
• What the disclosures mean
• How UCC4A affects situations like unauthorized ACH entries, wire transfer fraud, and more
• Important considerations before entering into a contract

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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