Accredited ACH Professional (AAP) Practice Exam

Question: 1 / 400

In which year was NACHA formed?

1971

1974

NACHA, which stands for the National Automated Clearing House Association, was established in 1974. This organization plays a crucial role in the development, administration, and governance of the ACH Network, which facilitates electronic payments among financial institutions.

In the years leading up to 1974, the groundwork for electronic payments was being laid, culminating in NACHA's formation to create a standardized framework for these transactions. The year 1974 signifies an important milestone, as it marked the beginning of a unified approach to the growing need for electronic payment systems in the United States, providing a foundation for the robust ACH system that exists today.

The other options refer to years that do not correspond to NACHA's actual founding date, which is an essential point in understanding the history of electronic payment systems and the evolution of the ACH Network.

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1980

1985

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