ACH Audit loan payment & CD interest payment

Posted By: Southern gal

ACH Audit loan payment & CD interest payment - 11/19/10 07:07 PM

I'm doing my ACH audit, what documentation do I need on the following question. "If the FI is acting as an originator on its own behalf(loan pymts, CD Interest) do the authorizations comply with the ACH rules?
Posted By: ackcompliance

Re: ACH Audit loan payment & CD interest payment - 11/19/10 10:30 PM

I believe that they are looking for an authorization agreement between the FI and the consumer. You can find an example of this in the ACH rulebook on pg OG36.