IMAGING: Getting Serious About Check 21
- Topics:
- Commercial Banking
- Tags:
- Bank,
- Managerial Accounting,
- Imaging,
- Financial Services,
- Finance,
- Enterprise Software,
- Document Management,
- Check 21,
- Bank Technology News,
- Software
- Source:
- Bank Technology News
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Overview: Banks rev up technology as legislation gets closer with federal legislation pending to give electronically imaged checks the same legal status as paper checks, more banks are looking seriously into imaging technology. The latest version of the Check Truncation Act (CTA)-known as Check 21 or Check Clearing for the 21st Century-is expected to be taken up by Congress this year, possibly during the summer. The bill would lift the requirement that the actual check must be delivered unless banks have a prior agreement to exchange electronic files.
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Format: HTML | Date: May 2003 | Pages: 3
