As a result of "Check 21-The Check Clearing for the 21^st Century Act": A)banks no longer have to ship paper checks to complete the process of check clearing. B)people can write checks and plan on having a couple of days to make a deposit to cover the check amount. C)canceled checks can no longer be used as proof of payment. D)the Federal Reserve is no longer involved in the check-clearing process.

Question

Quizplus · Accepted Answer

The "Check 21-The Check Clearing for the 21st Century Act" allows banks to create and exchange electronic images of checks, rather than having to physically transport the paper checks, thus eliminating the need for the physical transportation process in check clearing.

As a Result of "Check 21-The Check Clearing for the 21st

As a Result of "Check 21-The Check Clearing for the 21^st