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Remote Deposit Capture (RDC): Rules and Regulations - Legal and Compliance Requirements

instructor
By: Donna K Olheiser
Recorded Session
Duration
60 Minutes
Training Level
Intermediate to Advanced

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Transcript

Recorded Session

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Webinar Details

Remote Deposit Capture (RDC), just like other payment collection systems has guidance, laws, and rules that are required for a financial institution to utilize to help mitigate the risks involved and ensure compliance with its RDC Program. It is suggested that financial institutions regularly produce internal reports on the status of their RDC service. Financial institutions and their customers are legally obligated to comply with laws and regulations implemented to help prevent and detect money laundering and international terrorist financing.

WHY SHOULD YOU ATTEND?

Although RDC offers considerable benefits to financial institutions and their customers, the service is not without risks. The FFIEC guidance covers several issues that require management attention. Included in this session will include FFIEC Guidance, Regulation J, Check 21, RDC mobile and commercial agreements, the participants and roles of NACHA, ECCHO, and participants in the RDC chain. Attendees will also see scenarios where lessons can be learned with the implementation of Regulation CC regarding the challenges of implementation, remaining issues/opportunities, and best business practices for ensuring compliance with Regulation CC.

AREA COVERED

This webinar will take attendees through a comprehensive review of the following about RDC:

  • FFIEC Guidance on RDC
  • Federal Reserve Bank laws and Electronic Check Clearing House Organization (ECCHO) rules for RDC
  • RDC and how Check 21 relates
  • Uniform commercial code for RDC
  • Agreements between you and your customers (commercial and consumers)
  • Regulation J relative to its connection with RDC
  • Regulation E for consumer entries that are converted to ACH

WHO WILL BENEFIT?

  • Financial Institution Professionals (New/Current Operations Staff)
  • Banking Operations Managers and Staff
  • Compliance and Risk Professionals
  • Treasury Management Professionals
  • Aspiring and Current AAPs (Accredited ACH Professionals)
  • Company / Business Owners (Originators)
  • Banking Managers/ Supervisors
  • Chief Compliance Officers
  • Risk Managers

Although RDC offers considerable benefits to financial institutions and their customers, the service is not without risks. The FFIEC guidance covers several issues that require management attention. Included in this session will include FFIEC Guidance, Regulation J, Check 21, RDC mobile and commercial agreements, the participants and roles of NACHA, ECCHO, and participants in the RDC chain. Attendees will also see scenarios where lessons can be learned with the implementation of Regulation CC regarding the challenges of implementation, remaining issues/opportunities, and best business practices for ensuring compliance with Regulation CC.

This webinar will take attendees through a comprehensive review of the following about RDC:

  • FFIEC Guidance on RDC
  • Federal Reserve Bank laws and Electronic Check Clearing House Organization (ECCHO) rules for RDC
  • RDC and how Check 21 relates
  • Uniform commercial code for RDC
  • Agreements between you and your customers (commercial and consumers)
  • Regulation J relative to its connection with RDC
  • Regulation E for consumer entries that are converted to ACH
  • Financial Institution Professionals (New/Current Operations Staff)
  • Banking Operations Managers and Staff
  • Compliance and Risk Professionals
  • Treasury Management Professionals
  • Aspiring and Current AAPs (Accredited ACH Professionals)
  • Company / Business Owners (Originators)
  • Banking Managers/ Supervisors
  • Chief Compliance Officers
  • Risk Managers

SPEAKER PROFILE

instructor

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. Donna is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her expertise being the rules for companies and financial institutions when processing specifically ACH electronic payments, then scheduling the training events to facilitate/deliver the material through a variety of venues (webinars, teleseminars, in-person workshops, including regional and national conferences). Donna has over 24 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).

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