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Implementing the Check 21 Act: potential risks facing banks

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  • Tara N. Rice

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.

Suggested Citation

  • Tara N. Rice, 2005. "Implementing the Check 21 Act: potential risks facing banks," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Aug.
    • Handle: RePEc:fip:fedhle:y:2005:i:aug:n:217
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    Keywords

    Checks; Check collection systems;

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