___________ governs the collection of checks and other cash and noncash items and the handling of returned checks by Federal Reserve Banks. It also covers the rules governing funds transfers sent through the Fedwire. Its purpose is to provide rules for collecting and returning items and settling balances.

Question

Quizplus · Accepted Answer

Regulation J specifically governs the collection of checks and other cash and noncash items by Federal Reserve Banks as well as the handling of returned checks. It also covers rules for funds transfers sent through the Fedwire and the settlement of balances. Regulations Z and X pertain to consumer lending and foreign exchange transactions, respectively.

___________ Governs the Collection of Checks and Other Cash and Noncash