Consumer vs Corporate Accounts: Why Does it Matter so Much? - NEW!

When:  Dec 31, 2017
The NACHA Operating Rules allow a financial institution to treat payments either by looking at the SEC Code or relying on the type of account that the RDFI has established for the receiver. Financial institutions are also dealing with federal regulations and state laws that clearly define different obligations for consumers and receivers. These rules, regulation or laws are not always consistent or clear so the only thing the financial institution can control is how they consistently apply what is in the disclosures. This session will highlight the difference for consumers and businesses under the rules, laws and regulations. We will also discuss common pitfalls in the disclosures provided to consumers and businesses.