Newsletter
Implementing the Check 21 Act: potential risks facing banks
Abstract: The Check Clearing for the 21st Century Act (the Check 21 Act) was designed to facilitate technological innovation by accelerating the transition to electronic check processing. Yet, in adopting Check 21-related processing, banks must also appropriately identify and mitigate potential risks associated with this new federal law.
Keywords: Checks; Check collection systems;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Publication Date: 2005
Issue: Aug
Order Number: 217