HERNDON, Va. – NACHA has approved an E-Sign provision for its operating rules governing the ACH network. Under the new rule, e signatures that comply with the Electronic Signatures in Global and National Commerce Act will comply with NACHA's requirements for "similarly authenticating" a consumer ACH debit authorization. Currently, NACHA requires a consumer debit to be authorized the old-fashioned way, in writing. The rule goes into effect on Jan. 1, 2002. NACHA's Project ACTION (CU Times, June 13) is expected to help ease consumers fears about making purchases online. Southwest Corporate FCU is the only CU representation on Project ACTION. [email protected]
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