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#208214 - 07/07/04 01:01 PM Check 21 Final Rule?
SteveKM Offline
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Joined: Sep 2003
Posts: 21
Texas
The comment deadline was almost 4 months ago. Is there any scuttlebutt as to when the final rule will be released

- Thanks....
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#208215 - 07/07/04 05:50 PM Re: Check 21 Final Rule?
Bear Collector, CRCM Offline
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Bear Collector, CRCM
Joined: Nov 2000
Posts: 1,830
District of Columbia
I thnk I heard that the Fed has until 7/28 or so. I hope we have it sooner - along with the FACT Act regs!
BC
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#208216 - 07/07/04 06:00 PM Re: Check 21 Final Rule?
Rubaiyat Offline
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Joined: Jun 2001
Posts: 1,373
Lido Deck
Bill Scaffici has indicated that it is expected out the week of 7/19 and will be approximately 200 pages in length. Get ready to do some reading!
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#208217 - 07/08/04 07:48 PM Re: Check 21 Final Rule?
Nanwa Offline
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Nanwa
Joined: Oct 2001
Posts: 5,564
Clintonville, WI, USA
Great. Just what I need, more reading. I feel as tho I can't keep current on anything anymore.
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#208218 - 07/12/04 09:33 PM Re: Check 21 Final Rule?
complyguy Offline
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complyguy
Joined: May 2001
Posts: 494
PA
Quote:

Great. Just what I need, more reading. I feel as tho I can't keep current on anything anymore.




I second your post & your tagline.

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#208219 - 07/15/04 04:17 PM Re: Check 21 Final Rule?
Tina A Sweet Offline
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Tina A Sweet
Joined: Aug 2001
Posts: 1,033
Marysville, Ca.
I feel with all the changes lately, this is an overwhelming job.
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#208220 - 07/21/04 10:14 PM Re: Check 21 Final Rule?
Anonymous
Unregistered

We heard at a recent seminar by the Fed that the final will not be available until August 28!

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#208221 - 07/22/04 03:49 AM Re: Check 21 Final Rule?
Bill Saffici Offline
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Bill Saffici
Joined: Dec 2003
Posts: 155
Philadelphia
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.

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#208222 - 07/26/04 08:44 PM Re: Check 21 Final Rule?
SteveKM Offline
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Joined: Sep 2003
Posts: 21
Texas
They just released the final about an hour ago.
Final rule for Check 21
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#208223 - 07/27/04 04:08 PM Re: Check 21 Final Rule?
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,792
Cape Cod
And HERE is a link to our Check 21 Article dissecting the final rule's high points.
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