Advice to Consumers/Banks on Check 21
The five bank regulatory agencies have released a new brochure designed to help consumers deal with the timing of Check 21, which is expected to cut check float dramatically.
"Protect Yourself from Overdraft and Bounced Check Fees," answers basic questions on how checks bounce and charges incur and what consumers should be considering when shopping for overdraft protection programs.
It is available at www.federalreserve.gov/pubs/bounce/
Also, FDIC has released Frequently Asked Questions designed to help financial institutions deal with some of the main issues they face, such as what is required for substitute check printing.
It is available at www.fdic.gov/regulations/resources/21actfaq/index.html
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 1, 2/05>/span>
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