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:

Proving youa re an adult turns you into a child
Twentysomething Brits shouldn't have to provide state-backed ID in order to purchase a glass of wine or can of beer.

Gambling With the Lives of Children
They prepared for more traffic, extra crime, and gambling addiction. But officials in Bucks County say that while planning for the 2006 opening of Parx Casino in Bensalem, they never anticipated this.

Students guard Canada's borders
They are the first to greet - or shall we say scrutinize - " travellers entering the country, assigned the task of guarding Canada from security and safety threats.

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