COR (Notification of Change)

A COR entry is initiated by a receiving depository financial institution (RDFI) to inform an originator of incorrect information submitted in an entry. The originator must correct the information within six business days or before initiating another entry to the receivers account.

Related Terms

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    An accredited ACH professional certified by the National Automated Clearing House Association (NACHA).

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  • DFA (Dodd-Frank Act)

    The Dodd-Frank Act was made effective in 2010 to promote financial stability in the U.S. by increasing accountability and transparency.

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