Presentation
Dodd-Frank 1033 and the ACH Network
Read Time: 1 minDodd-Frank Act Section 1033 has emerged as a pivotal regulatory framework impacting financial data access and consumer rights. Specifically, it mandates that consumers have the right to access their financial data and transfer it securely between financial institutions.
Member Aaron Kouhoupt (Cleveland) will present “Dodd-Frank 1033 and the ACH Network” at the Nacha Payments Legal & Compliance Summit on December 5, 2024. This session delves into the profound implications of Dodd-Frank 1033 and the CFPB’s rule-making on two critical aspects of the financial landscape: the ACH Network and emerging Pay by Bank solutions. Attendees will gain an understanding of how Dodd-Frank 1033 reshapes data access rights in the financial sector, its implications for the ACH Network, and its role in fostering secure and user-centric payment solutions like Pay by Bank. Moreover, participants will be equipped with strategic insights to navigate compliance challenges and capitalize on emerging opportunities in the evolving regulatory environment.
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts.