Certified Payroll Professional Practice Exam

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What is the primary responsibility of the National Automated Clearinghouse Association (NACHA)?

Issuing credit cards
Regulating international banking practices
Settling transactions within financial institutions
Developing and overseeing the ACH network

The correct answer is: Developing and overseeing the ACH network

The primary responsibility of the National Automated Clearinghouse Association (NACHA) is to develop and oversee the ACH network. NACHA is responsible for establishing and maintaining the rules and standards that govern the ACH network, ensuring that electronic payments are processed efficiently and securely between financial institutions. This involves creating operating guidelines, managing risk, and promoting the adoption of electronic payments. Option A, issuing credit cards, is not within the primary responsibility of NACHA. Option B, regulating international banking practices, is not the main focus of NACHA's role. Option C, settling transactions within financial institutions, is related to the ACH network but does not encompass the comprehensive responsibilities of NACHA in overseeing the network.