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:

Where whale is on the menu
The producers of "The Cove" -- the Oscar-winning documentary about Japanese dolphin killings -- unveiled their latest marine-mammal sting operation yesterday, exposing a trendy Los Angeles sushi restaurant called The Hump for selling illegal whale meat.

Rubio's campaign image belies history of $250 million in pork requests
Republican U.S. Senate front-runner Marco Rubio brags on his Web site that he didn't officially request budget pork in his last four years as a leader in the Florida House.

The high cost of voting: Letters for Wednesday, March 10
Editor's note: The author of the following letter was inadvertently left off in Tuesday's newspaper.

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