Accredited ACH Professional (AAP) Practice Exam

The organization that oversees the ACH network is NACHA (the National Automated Clearing House Association). NACHA plays a crucial role in establishing the rules and regulations that govern the ACH transactions, ensuring the smooth operation of the network. It develops and maintains the Operating Rules that ensure all participants – including banks, credit unions, and payment processors – adhere to consistent standards for electronic funds transfers. NACHA also engages in advocacy and education around ACH payments, promoting their adoption and effectiveness across the financial industry. Its responsibilities include setting transaction limits, addressing fraud prevention strategies, and fostering innovations in the ACH space. By establishing a framework for these transactions, NACHA helps to maintain the integrity and reliability of the ACH network for all users. While the Federal Reserve does play a role in facilitating ACH transactions and can provide support in the processing infrastructure, it does not have the regulatory authority over the operating rules of the ACH network like NACHA does. Similarly, while The Treasury Department and the Consumer Financial Protection Bureau are involved in various aspects of financial regulation, they do not directly oversee the ACH network.