The Check Clearing for the 21st Century Act is commonly known as Check 21,and is a federal law that is designed to enable banks to handle more checks manually.

Question

Quizplus · Accepted Answer

The Check Clearing for the 21st Century Act, commonly known as Check 21, is a federal law that allows banks to create electronic images of original paper checks, which can then be used for payment processing instead of the physical check itself. This law was designed to make the check-clearing process more efficient and reduce the need for physical transportation of paper checks.

The Check Clearing for the 21st Century Act Is Commonly