Fed Reports to Congress on Check 21 Progress
In a report titled "Report to the Congress on the Check Clearing for the 21st Century Act of 2003" (PDF), the Federal Reserve reports "on the effect of the Check Clearing for the 21st Century Act on the nation's check-collection system. Assesses the need for modifications to the funds-availability requirements established in and pursuant to the Expedited Funds Availability Act (EFAA). Based on the Board's extensive survey of the banking industry and supplemented with other information from official and industry sources."
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