Check 21

Topics:
Commercial Banking
Tags:
Check 21,
Finance,
Financial Services,
Operational Accounting,
Payment
Source:
American Land Title Association

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Overview: This paper discusses the Federal law and implementing rules that will become effective October 28, 2004. Check 21 was the result of efforts by the Federal Reserve to promote electronic check presentment. The purposes of the Act and regulatory provisions are to facilitate check truncation, foster innovation in the check payment system without mandating receipt of checks in an electronic format, and to improve the overall efficiency of the payment system.

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Format: PDF | Size: 34KB | Date: Oct 2004 | Pages: 2

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