Most of us are only familiar with the major accrediting institutions such as the regional and national accreditation bodies as this is the typical or the so-called standard accreditations being carried by reputable online universities in the United States. Although there is no federal law stating or requiring the any school to get accreditation in order to operate legally, it is a norm nowadays for students to study in school that is properly accredited by the US Department of Education.
Studying in an accredited university is our best bet to guarantee acceptance in most companies and institutions. In fact, the Free Application for Federal Student Aid (FAFSA) is only offered and implemented in universities that are nationally or regionally accredited. The same thing goes for most scholarship applications wherein the program only serves those students who are currently enrolled or planning to enroll in accredited universities.
And for those of you who wanted to know more than the typical regional and national accreditation bodies check out this great lists of legitimate accreditation agencies within the United States. It includes other accreditations such as National Institutional and Specialized Accreditation List and Distance Education Accreditation List that are being carried by some online universities. This will give you an idea whether the accreditations claimed by a particular university is a real accreditation or not.