TITLE

Get Ready for a New Age of Check Truncation

AUTHOR(S)
White, Foster S.
PUB. DATE
January 2003
SOURCE
Bank Technology News;Jan2003, Vol. 16 Issue 1, p38
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Presents viewpoints concerning the implementation of the Check Truncation Act which is designed to encourage banks to convert to an electronic collection in the U.S. Reduction of the current legal impediments to check truncation; Accounts on the economic and operational advantage of electronic processing; Virtual elimination of human error.
ACCESSION #
8832074

 

Related Articles

  • Check safekeeping to end pilot status by Jan. 1.  // ABA Banking Journal;Aug82, Vol. 74 Issue 8, p86 

    Reports that the pilot test of interbank safekeeping of certain commercial checks will be converted to an on-going operation on January 1, 1983. Cost saving achieved from interbank truncation; Challenges of check safekeeping.

  • Check safekeeping: will it catch on?  // ABA Banking Journal;Feb85, Vol. 77 Issue 2, p78b 

    Reports on the implementation of check safekeeping on a limited basis by banks in the U.S. Aspects needed for the impact of the practice on banking operation; Types of check safekeeping; Savings on the check safekeeping system for the bank and the customers.

  • What lies behind the 9-digit ZIP. Brennan, Peter J. // ABA Banking Journal;Jun82, Vol. 74 Issue 6, p65 

    Focuses on the similarity and differences of banking industry and postal services in handling mails and checks in the U.S. Automation of banks in handling checks; Specification standards in postal services; Details of the ZIP+4.

  • Fed Vice Chair Sees Promise of Proposed Check Truncation Act.  // Financial Update;Apr-Jun2003, Vol. 16 Issue 2, p21 

    Reports on the comments made by vice chairman of the U.S. Federal Reserves Roger Ferguson on the Check Truncation Act proposed by the Federal Reserve to increase the efficiency and reduce the costs of processing checks, as of April 1, 2003.

  • The Check Truncation Act and Paying Banks. Ireland, Oliver // Community Banker;Jun2002, Vol. 11 Issue 6, p48 

    Discusses the Check Truncation Act proposed by Federal Reserve Chairman Alan Greenspan to congress in the U.S. Provisions of the Act; Impact of the law on the banking sector; Pros and cons of the legislation.

  • ABA NEWSLETTER.  // ABA Banking Journal;Aug81, Vol. 73 Issue 8, p19 

    Reports developments in the banking industry in the U.S. Conventions of the National Bank Card Convention; Introduction of the Check safekeeping Pilot program on bank-of-deposit check truncation network; Research studies of the American Bankers Association on interaction of regulation and...

  • Responding to the consumer challenge.  // ABA Banking Journal;Nov85, Vol. 77 Issue 11, p69 

    Focuses on the challenges of the banking industry on consumer concerns in the U.S. Issues on customer satisfaction through services; Information on rate disclosure; Provision of low cost fee on check safekeeping.

  • Banks Need Time to Get Ready for Check Truncation. Murphy, Patricia A. // American Banker;May2004 Supplement, Vol. 169, p28 

    It's the $2 billion question punctuating bank operations forums these days. The consensus opinion appears to be that significant inroads won't appear for at least three to five years, and even then, it's not clear all banks will be exchanging image check files in lieu of shuttling paper checks...

  • Uncertainty is the Watch Word in Lead Up to Check 21. Capachin, Jeanne // American Banker;May2004 Supplement, Vol. 169, p34 

    The much ballyhooed Check 21 Act will take effect, setting in place the legal framework for a more efficient check processing apparatus. The full impact of this change, however, will not be felt immediately. Banks will still clear paper checks, billers will still courier deposits to check...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

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

Try another library?
Sign out of this library

Other Topics