X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
For consumers confused about their bank statements, things will only get worse. Late last year, Congress passed the Check Clearing for the 21st Century Act (Check 21). It allows checks to be routed electronically and permits banks to substitute digital facsimiles for paper checks for processing through the clearance system. Still, Check 21, which takes effect on Oct. 28, 2004, is not the same as check conversion. For the most part, the Uniform Commercial Code will still govern such substitute checks, and a customer’s bank will receive an image copy of the front and back of his checks. Additional information about check conversion may be found in the 2003 Supplement to Consumer Banking and Payments Law, published by the National Consumer Law Center ( www.nclc.org). Information about Check 21 will be available in the 2004 Supplement. — James H. Johnston

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.