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- Check 21 - Exacerbating the Emerging Crisis in U.S. Banking Profitability
- Check 21 legislation's goal is to reduce systemic risk associated with physical check movement as well as to provide a mechanism to reduce the costs associated with check payment processing. Check 21 creates a newly acceptable payment instrument. In addition, Check 21 provides a foundation for the imaging of checks...
- White papers 2004-01-01
- Dispelling Prevalent Industry Myths: Reality Check 21
- Check 21 legislation allows a substitute check to be presented in lieu of the original document. It is designed to promote the use of electronic exchange as an optional means of payment transportation. Intended to spur innovation in the check clearing process, Check 21 is creating both controversy and confusion...
- White papers 2004-11-19
Additional Resources
- Check 21 Legislation: What Must be Done Now and What can Wait Regarding the Check 21 Act
- The article refers to the Check 21 legislation. Check 21, or "Check Clearing in the Twenty-First Century Act", is an initiative by Congress to revise the rules governing the exchange of checks between financial institutions, which essentially enables a more electronic check collection system for the country. While it does...
- White papers
- Check 21 Promises Greater Choices, Efficiency, Innovation
- This paper discusses the Check 21 Legislation. Although checks remain the most popular form of non-cash U.S. retail payments, it's no secret that the current check collection and return process is both costly and labor intensive. Good news?help is on its way. Pending legislation known as the Check Clearing for...
- White papers 2003-11-12
- Checkpoint for Check 21
- The article introduces and briefs about the recently introduced Check 21 legislation. The Check Clearing for the 21st Century Act, or Check 21, will require that banks accept paper documents with check images and data related to transactions in lieu of original paper checks, which, once digitized, can be destroyed...
- White papers 2004-10-25
- Making the Most of Check 21
- This article describes about Check 21 legislation, which will take effect from October 28. It answers the question of how can community banks and credit unions enjoy the greatest benefits from recent Check 21 legislation. The most accessible Check 21 benefits will come from aggregators of check images - most...
- White papers
- The Impacts of Check 21 and ARC to Your Organization
- Check 21 legislation aims to further improve efficiency of the payment system via the creation of a new payment instrument - the substitute check. This article explains the repercussions of the Check 21 legislation on the payment processing environment and how it will compare to check conversion services being offered.
- White papers 2005-01-29
- Checks Are Changing - Consumers and Check 21
- In October 2003, the Check Clearing for the 21st Century Act became law. Now known simply as Check 21, the legislation's goals include improving the overall efficiency of the nation's payments system. Today, most checks must be physically transported û whether across town or across the country û before they...
- White papers
- PrintXcel Installs RDM Image Qualifiers to Ensure Check 21 Compliance
- The article refers to the Check 21 legislation. Englewood, CO, July 12, 2004- PrintXcel a Quality Park Brand, recently installed RDM Image Qualifiers in all facilities producing business forms and checks. The RDM Image Qualifiers will allow all PrintXcel plants to design and test check documents for image compliance, ensuring...
- White papers
- Consolidation Continues for Paper-Based Check Exchanges as The Industry Prepares for Check 21: The Connecticut Clearing House Joins The National Check Exchange (NCE), The Largest Check Exchange by Dollar Volume in the U.S.
- The article refers to the Check 21 legislation. NCE is already the largest regional check exchange by dollar volume in the U.S. The additional volume helps NCE to continue to reduce costs and increase efficiency of the check clearing process. It also adds momentum to NCE's drive to standardize, rationalize,...
- White papers 2003-08-28
- The Catch-22 of Check-21
- This article provides an insight into the effects of Check 21 legislation and provides information on how to be prepared for it. When this legislation, goes into effect, and every bank in the country must be prepared to receive and process image replacement documents IRD as if they were regular...
- White papers 2004-05-18
- How Check 21 Will Impact Your Business: 3 Ways the Banking Act Will Affect Entrepreneurs
- This article focuses on the Check 21 legislation and the effects it would have on entrepreneurs. In a nutshell, Check 21 allows banks to replace paper checks with a digital copy of the check, called a substitute check. Once a paper check has been transformed into a substitute check, the...
- White papers 2004-09-13
- Check 21 Resource Document
- The article refers to the Check 21 legislation. The Check Clearing for the 21st Century Act (Check 21 Act) facilitates significant change in the way checks are processed in the United States. All banks will be affected by this law even if they do nothing to change their current check...
- White papers 2004-03-01
- Check 21 Comes of Age
- This article talks about the Check 21 legislation, signed by the president that created a slow-moving tidal wave. It brought profound change to corporate finance operations but also gave companies plenty of time to adjust. The bill legalizes the use of digital images of checks as official Image Replacement Documents...
- White papers 2004-02-01
- Getting Ready for Check 21
- Firms Add Check Exchange Consulting to Their OfferingsPayment processing solutions provider Wausau Financial Systems (WFS, www.wausaufs.com) has added professional consultative services dedicated to evaluating an organization's readiness for Check 21.With WFS' consulting for Check Exchange Management, an organization will become aware of business practices that already meet Check 21 requirements...
- Research articles 2003-12-01
- Check 21
- American consumers and businesses write millions of checks each month. Today, most of these checks must be physically transported between financial institutions before they are cleared, a process that is expensive and time consuming. To streamline check processing, reduce paper, combat fraud, and improve the nation's financial system overall, one...
- White papers
- SVPCo and Unisys to Help Financial Institutions Leverage Check 21 Legislation and Image Exchange Opportunities
- Under the agreement with SVPCo - the leading bank-owned, private sector provider of payment services to financial institutions in the United States - Unisys will offer consulting services to help financial institutions meet the business and technical requirements of Check 21. Unisys consulting services help banks realize the industry goal...
- White papers 2004-05-04
- Federal Reserve Takes a Lead Role in Supporting Check 21
- This article provides information regarding check 21 legislation. Although the payments landscape won't change overnight, the ability to process image cash letters will, over time, encourage new technologies that improve the efficiency of the nation's check collection system and reduce its cost. The Fed has chosen to take a leadership...
- White papers
- "Ready or Not, Here I Come": Check 21 and the Corporate Customer
- This paper starts with describing what Check 21 means for banks' corporate customers. It then analyses the areas that will be affected by the implementation of the Check 21 legislation. It also throws light on how the banks have anticipated these impacts and how their customers would react when Check...
- White papers 2004-05-14
- Check 21 - The SunTrust Response
- There is going to be many changes in the banking environment after Check 21 legislation have become effective on October 28, 2004. Some changes could be immediate, while some will be more gradual. This document is designed to explain the near-term impacts of Check 21 and its many potential long-term...
- White papers 2004-10-14
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