Federal Reserve Takes a Lead Role in Supporting Check 21

Topics:
Commercial Banking
Tags:
Check 21,
Federal Reserve Bank Of St. Louis,
Federal Reserve Board,
Financial Services
Source:
Federal Reserve Bank of St. Louis

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Overview: This article provides information regarding check 21 legislation. Although the payments landscape won't change overnight, the ability to process image cash letters will, over time, encourage new technologies that improve the efficiency of the nation's check collection system and reduce its cost. The Fed has chosen to take a leadership position in the implementation of Check 21, providing new products and services while partnering with banks to show them how to most effectively use these innovations.

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