Automated Clearing House
This ACH network participant enters the payments instructions into the ACH Network.
What is ODFI (Originating Depository Financial Institution)?
This endorsement included on the back of member checks could help a CU reduce losses if a member makes an RDC deposit and subsequently deposits the same check at another financial institution.
What is a restrictive endorsement?
This is the name of the report listing out all users and roles of the FedLine system.
What is the Subscriber and Roles report?
This is the limit a debit or ATM card defaults to when an EMV chip cannot be detected or read.
What is a Fall Back limit?
This is an association that provides help to CUs on payments compliance and training.
What is a payments association?
ACH participants are required to keep updated contact information in this Nacha program. And participants could be subjected to a fine if the information is not included.
What is the Nacha Contact Registry?
This the the time period a consumer checks should be retained (five years, BSA) and commercial checks (seven years, UCC).
What is Image Retention for RDC?
The Federal Reserve implemented a new requirement in 2021, requiring all FedLine participants to complete this assessment annually.
What is the FedLine Solutions Security and Resiliency Assurance Program?
A type of fraud where a criminal inserts a thin reader into a card slot of an ATM/ITM.
What is Shimming?
This type of card payment has never been compromised (as of yet) and allows the consumer to tap their card to a point-of-sale terminal to make a purchase.
What is Tap to Pay?
Annually by December 31st, each ACH participant is required by the Nacha Operating Rules to complete or have completed this audit.
What is the Nacha Rules Audit?
This new program from the Treasury allows CUs to validate the validity and payee for Treasury Checks.
What is Treasury Check Verification System (TCVS) Application Programing Interface (API)?
This participant is the primary contact between the CU and the Federal Reserve Bank. This participant is also responsible for managing subscriber access for FedLine.
What is the End User Authorization Contact (EUAC)?
A type of fraud where a criminal installs a device on an ATM to steal cards and PIN data. This is usually with an overlay device.
What is Skimming?
According to NIST, this is no longer considered a strong method for sending a one-time passcode (OTP) but many CUs are still using this method.
What is email?
This ACH network participant is responsible for receiving ACH transactions from originating banks, processing them, and distributing them to receiving banks for processing. There are two in the US.
What is the ACH Operator?
This type of check cannot be subjected to a stop payment. CUs may allow a member to complete an affidavit stating the check was lost and reissue this check, but FIs are required to pay any of these checks presented for payment (even if a stop payment was completed).
What is a cashier or official check?
This is the Federal Reserve service that allows CUs to send wires and ACH.
What is FedLine Advantage?
A type of fraud where criminals gain access to an ATM usually by using physical access to install malware. This malware results in the ATM dispensing all of its cash in one session.
What is Jackpotting?
This is a type of instant payment that is irrevocable and credit push only. This instant payment method is provided by The Clearing House.
What is Real Time Payments (RTP)?
Financial institutions are required to complete this by the Nacha Operating rules to assess controls, policies, IT security, and business continuity.
What is the ACH Risk Assessment?
This regulation defines funds availability, but is not applicable to RDC. However, a CU must comply with funds availability schedules provided in member disclosures.
What is Regulation CC?
This is the Federal Reserve service that allows CUs to perform functions such as check returns and cash ordering.
What is FedLine Web?
This an example of a control ATM owners can use to help detect and prevent jackpotting. In addition, this same control can help to mitigate risk related to universal keys to open ATMs.
What is alarming the hood of the ATM?
This is a type of instant payment that is irrevocable and credit push only. This instant payment method is provided by the Federal Reserve.
What is FedNow?