That is INCORRECT. August 28 is the date that the FRB will release the pricing for their Check 21 products along with the initial list of RTs of the endpoints that can be presented on an image cash letter that will be presented to the paying bank in image form.
I was on an industry call on Tuesday (7/20) discussing the issue of dashes in the MICR line as they relate to creating a substitue check and a FRB official stated that the final draft was submitted to the revview board on Monday (7/19)and it should be approved by Friday of this week or Monday, at the latest. It is 150 pages of double space type.