Automated Clearing House Policy Update

Product Update Notification

Automated Clearing House Policy Template Update - 09/27/06

Bankpolicies.com is proud to announce the immediate availability of our revised Automated Clearing House Policy Template product.

The revision to this product is in response to the OCC's Bulletin 2006-39 dated September 7, 2006 that provides guidance for national banks and examiners on managing the risks of automated clearing house (ACH) activity.

http://www.occ.gov/ftp/bulletin/2006-39.pdf

What's New

Topic 4 - Risk Management. This topic includes the following subtopics:

General

Oversight Responsibilities

Risk Management Systems and Controls

Reporting to Board of Directors

Audit Program

Credit Risk

High Risk Activities

Compliance Risk

Third Party Service Providers

Third Party Senders

Direct Access to the ACH Operator

Transaction Risk

Information Technology and Security

Business Continuity Planning

What's Revised

Topic 2 - Policy Description, Authority and Scope. The following subtopics were added:

Geographic Area Coverage

Non-Discrimination Policy

Topic 10 - Credit Underwriting Guidelines. The following subtopics were added:

General

Customer Risk Assessment Guidelines

Prohibited or Restricted Customers

Additional Guidelines for Internet Customers

In addition, the "Evaluation Process" subtopic was greatly expanded to include addition credit underwriting guidelines.

Topic 11 - Processing an Approved ACH Origination Request. The reference to outdated forms formally included in the ACH Credit or Debit Agreement Form Templates were removed.

Topic 15 - Audit Policy. The "General" and "Audit Objectives and Scope" were revised to reflect current regulatory requirements.

Ordering Information

This revised product is available to purchase from Bankpolicies.com for:

$275.00 - List Price

- or -

$50.00* - Update Price

*Applies only to clients who have purchased our Automated Clearing House Policy Template.

If you have ordered this product after 08/27/06 you are eligible to receive the product update at no charge.

Click here to place an order for this product. Clients who are eligible for our Legacy Rewards Volume Discount can apply their applicable discount level to the update or list price (whichever applies).

NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com.

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