MCUA Comments to NACHA on Third-Party Clarifications
Last week, the Missouri Credit Union Association (MCUA) submitted a comment letter to NACHA—The Electronic Payments Association—regarding the clarification of third-parties in the ACH Network. These proposed changes would clarify the definitions, roles, and responsibilities of service providers and senders that are third-parties.
MCUA generally supported these clarifications, which are technical changes that should be helpful for third-parties as well as for other entities in the ACH network, including credit unions that use such entities for processing. Further, MCUA encouraged NACHA to continue to look for ways to minimize compliance burdens on credit unions and other financial institutions.