Digital Deposits

Hromadka, Erik
April 2007
Indiana Business Magazine;Apr2007, Vol. 51 Issue 4, p18
The article offers information on digital deposits in Indiana. Businesses can now process checks and receive payment on the day the check is presented. The Check Clearing for the 21st Century Act (Check 21) created a new negotiable instrument called substitute check, wherein it allows banks to process check information electronically and deliver to banks. Furthermore, a substitute check is the legal equivalent of the original paper check and includes all the same information.


Related Articles

  • Under-Encoded Check Does Not Discharge Tax Obligation.  // Clarks' Bank Deposits & Payments Monthly;Jan2012, Vol. 21 Issue 1, p6 

    The article discusses the issue noting that under-encoded check does not discharge the tax obligation in the U.S. It mentions the court case United States v. Zarra illustrating the application of some of the tricky rules of the Uniform Commercial Code (UCC) to checks misencoding. It points out...

  • FASB eyeing market value accounting of deposits. Siegel, David // American Banker;9/16/1993, Vol. 158 Issue 178, p1 

    Reports on the plan of the Financial Accounting Standards Board to extend market value accounting to deposits and other liabilities. Drafting of a proposal; Comments of various bankers; Support from the insurance industry.

  • Current Developments in Bank Deposits and Payment Systems. Stinneford, Ryan S.; Brown, Laura Hobson; Davis, Candace Modlin // Business Lawyer;Feb2010, Vol. 65 Issue 2, p629 

    The article discusses legislative and regulatory developments concerning bank deposits and payment systems in the U.S. It explores deposit account overdraft rules and proposals of the Federal Reserve Board (FRB) such as the Regulation DD or Truth in Savings and Regulation E or Electronic Fund...

  • Uninsured deposits and the too-big-to-fail policy in 1984 and 1991. Athavale, Manoj // American Business Review;Jun2000, Vol. 18 Issue 2, p123 

    Examines changes in the too-big-to-fail (TBTF) policy and market assessment of default risk in the pricing of uninsured certificates of deposit in the United States from 1984 to 1991. Reaction of financial markets on the policy; Impact of policymakers' actions on default pricing of uninsured...

  • Avoiding withdrawal pain.  // Overdrive;Nov99, Vol. 39 Issue 11, p156 

    Focuses on strategies recommended for withdrawing bank deposits in the United State without circumventing or violating banking laws on cash withdrawals.

  • Monetary safe haven.  // State Government News;Oct97, Vol. 40 Issue 8, p17 

    Reports that Montana has initiated a law that allows private banks in the state to accept capital from people who are not American citizens or residents. Citing of the lure of stability and safety; Protection of assets from seizure by foreign governments.

  • Battle looms in legislature over government deposits.  // Crain's New York Business;03/17/97, Vol. 13 Issue 11, p36 

    Reports on the controversy in Albany, New York, concerning where municipal governments can invest their deposits. Information on where some of the money is invested; Why money is deposited at some of these institutions; What clarification local governments want from lawmakers; Claims by some...

  • Loophole would let Mercantile hold 25% of Missouri deposits. Chase, Brett // American Banker;1/7/1997, Vol. 162 Issue 4, p7 

    Reports that Mercantile Bancorp.'s acquisition in Saint Louis, Missouri will bring its share of deposits in the state to nearly one fourth. State law on deposits share; Acquisition of Roosevelt Financial Group Inc.; Loophole in the law taken advantage of by Mercantile; Mercantile's proposal to...

  • Public Deposits Bill To Gov.'s Desk.  // Credit Union Journal;6/9/2003, Vol. 7 Issue 23, p2 

    Reports that the Oregon Senate Bill 331, which would allow credit unions to accept deposits from a variety of public entities, passed the floor of the Oregon House of Representatives.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics