CHECK PROCESSING GOING DIGITAL

WASHINGTON -- A new Federal law allowing for all-electronic check transaction processing promises to make having reliable and secure network services even more of a necessity going forward.On Oct. 28, The Check Clearing for the 21st Century Act will take effect, allowing banks to send a digital image of a check to the processing bank rather than the physical check itself.The legislation was signed

WASHINGTON -- A new Federal law allowing for all-electronic check transaction processing promises to make having reliable and secure network services even more of a necessity going forward.

On Oct. 28, The Check Clearing for the 21st Century Act will take effect, allowing banks to send a digital image of a check to the processing bank rather than the physical check itself.

The legislation was signed into law last October.

"The law facilitates check truncation by crea

Register to view the full article