check 21 legislation

The "Check 21 Act" or, "Check 21 Legislation",is short for "The Check Clearing for the 21st Century Act" and provides new rules for both banks and check manufacturers. The "Check 21 Legislation" 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 bankcheck. 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 Legislation 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 Legislation just seems to save banks the extra postage and handling necessary to return your financial documents to you.

check 21 legislation news:

May 17 in local history
MERCED STUDENT AWARDED $1,000 FOR SCHOLARSHIP: Highest award for achievement in the field of fine arts among high school students in Northern California went to a Merced High School senior in a Bank of America ...

State Debate: Make a difference, buy local, advises the Marshfield News-Herald
Make a difference, buy local , advises the Marshfield News-Herald. As residents get their economic stimulus checks, the Inner Wisconsin Buy Local Committee is on a mission.

Washington D.C. Bureau
Washington D.C. Bureau Today's News DRA proposes interstate link, new river bridge WASHINGTON - Delta economic development advocates asked lawmakers Thursday to prioritize a four-lane highway connecting ...

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