FDCPA (Fair Debt Collection Practices Act)
Approved in 1977, the Fair Debt Collection Practices Act allows for legal consumer protection against abusive debt collection practices.Learn More
ACH operator is the term used to describe the switching mechanism within the settlement network that provides information to the network participants. The ACH operator calculates the settlement totals owed to and by the participating financial institutions based on the effective entry and processing dates of batches of transactions.
ODFI (Originating Depository Financial Institution)
Financial institutions that originate ACH transactions on behalf of its customers. ODFI's must abide by the National Automated Clearing House Association (NACHA) Operating Rules.Learn More