Check 21 Act: Most Consumers Have Accepted and Banks Are Progressing Toward Full Adoption of Check Truncation
Description:
A letter report issued by the Government Accountability Office with an abstract that begins "Although check volume has declined, checks still represent a significant volume of payments that need to be processed, cleared, and settled. The Check Clearing for the 21st Century Act of 2003 (Check 21) was intended to make check collection more efficient and less costly by facilitating wider use of electronic check processing. It authorized a new legal instrument--the substitute check--a paper copy of…
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Date:
October 28, 2008
Creator:
United States. Government Accountability Office.
Item Type:
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Report
Partner:
UNT Libraries Government Documents Department