Understanding Financial Compliance for K-12 Schools – Angela Nielsen, AAP at NBOA Annual Meeting
Feb 26 @ 10:30 am - 12:00 pm
Attending the NBOA Annual Conference? Your school is considered a “merchant” by the major credit cards and an “originator” by the ACH network, even if you fully outsource your payment processing. Our NBOA session will outline the major payment-industry rules and regulations affecting K-12 schools and provide you with information to navigate this complex regulatory framework. We will cover the Truth in Lending Act (TILA), Know Your Customer (KYC) rules, the Bank Secrecy Act (BSA), applicable National Automated Clearing House Association (NACHA) rules, card acceptance rules (PCI-DSS and credit card fee programs), as well as outline the more important consumer rights parents have when doing business with your school.