Under the Competitive Equality Banking Act,a nonlocal check must clear in no more than four intervening business days.

Name: Under the Competitive Equality Banking Act,a nonlocal check must clear in no more than four intervening business days.
Brand: Quizplus
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Quizplus · Accepted Answer

The Competitive Equality Banking Act, also known as Regulation CC, sets a maximum time of four business days for most nonlocal checks to clear. However, there are some exceptions and variations based on the amount, location, and type of depositing institution.

Under the Competitive Equality Banking Act,a Nonlocal Check Must Clear