Check 21 definition

Check 21 means the Check Clearing for the 21st Century Act.

Check 21 means the Check Clearing for the 21st Century Act, as well as Subpart D of Federal Reserve Board Regulation CC, and to the extent applicable, Subpart A.

Check 21 means the Check Clearing for the 21st Century Act, as amended.

Examples of Check 21 in a sentence

• The following provisions help explain some of the rights a consumer has under a federal law commonly referred to as Check 21.

• Check 21 was enacted to increase the efficiency of the U.S. check clearing system.

• The Check Clearing for the 21st Century Act , the implementing Check 21 regulations located in Subpart D to Federal Reserve Board Regulation CC, and other applicable provisions of Regulation CC.

• Check 21 allows banks to create substitute checks and present them to other banks instead of the original check.

• All checks will conform to the requirements of the then-current applicable rules, regulations, and procedural guidelines published by NACHA, all regional payment alliances associated with NACHA, and all applicable laws and governmental regulations, including but not limited to the Check 21 Act.

More Definitions of Check 21

Check 21. The Check Clearing for the 21st Century Act, 12 U.S.C. 5001 et. seq., and the implementing Check 21 regulations located in Subpart D to Federal Reserve Board Regulation CC, 12 C.F.R. 229 et. seq., and other applicable provisions of Regulation CC.

Check 21. The Check for the 21st Century (Check 21) Act and all regulations pertaining to the Check 21 Act.

Check 21 refers to the Check Clearing Act of the 21st Century. It may also be used to describe a specific file type (usually preceded by the reference: X9) approved by the Federal Reserve whereby the intent of the act may be achieved. Financial institutions sometimes refer to this type of check transaction as: “Check 21” or “X9.37” or “Image Cash Letters” or “Paper Based (electronic) Transactions”.

Check 21 means FRB Reg. CC, Subpart D, promulgated to implement the provisions of the Check Clearing for the 21st Century Act.

Check 21 means the Check Clearing for the 21st Century Act, which may be amended from time to time.

Check 21 means the Check Clearing for the 21st Century Act. “Image” means the electronic image of the front and back of an Item, in addition to other required information, as specified by us, in the format we specify. “Image Replacement Document” or “IRD” means a substitute check, as defined in Check 21. An “Item” is an original: check, cashier’s check, official check,

Check 21. Check Truncation Act for the 21st Century. This is the legislation signed into law on October 29, 2003 that defines a Substitute Check (SC) as legal tender in place of an original check.