check 21 law

The "Check 21 Act" or, "Check 21 Law",is short for "The Check Clearing for the 21st Century Act" and provides new rules for both banks and check manufacturers. The "Check 21 Law" was written ostensibly to make banks function in a more streamlined manner following the paralysis that struck the banking industry after 9/11. Congress, in their wisdom, passed the law recently. It's a few pounds of paper that can put all but avid economists to sleep in under two minutes. A side benefit of the act for the banking industry is that they are no longer required to return your actual cancelled bank check. Instead, you will now receive a scanned and reduced reproduction of your bank check. Unfortunately, the back of your bank check, showing who cashed or deposited it, is missing. The long and the short of this Check 21 Law is that check manufacturers are limited by law as to what they can and cannot include in the design of a check and that banks are not obliged to return your cancelled checks to you. But the Check 21 Law just seems to save banks the extra postage and handling necessary to return your financial documents to you.

check 21 law news:

Fear grips immigrants after Mississippi plant raid
LAUREL, Miss. - A day after the largest single-workplace immigration raid in U.S. history, Elizabeth Alegria was too scared to send her son to school and worried about when she'd see her husband again.

Aug. 27: Arrest Log
He is being held without bond. - Anderson police arrested Jesus Zamora, 31, of the 2700 block of Pitt Street, Anderson, at 9:25 p.m. Tuesday in the 3200 block of Columbus Avenue on suspicion of operatinga ...

Learn On The Job During Niles' Annual Citizen Police Academy
The Niles Police Dept. will host its Citizen Police Academy on Wednesday nights for 10 weeks starting Sept.

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