A bank is permitted by statute to remove an original paper check from the check collection process and send a substitute check instead.

Name: A bank is permitted by statute to remove an original paper check from the check collection process and send a substitute check instead.
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Question

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A bank is allowed by law, under the Check 21 Act, to create a digital version of an original paper check, known as a substitute check, to facilitate faster and more efficient check processing and clearing.

A Bank Is Permitted by Statute to Remove an Original