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#48693 - 12/13/02 03:33 PM Check Truncation Act
DebbieC Offline
Member
Joined: Jul 2001
Posts: 66
Owensboro, KY USA
Does anyone know whether the "Check Truncation Act" was every finalize and enacted? If so, where can I find a copy?

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#48694 - 12/13/02 03:43 PM Re: Check Truncation Act
Kara S Offline
Platinum Poster
Joined: Oct 2002
Posts: 927
Milwaukee, WI
It doesn't look like it has been finalized. Here is a link with the proposal:

http://www.federalreserve.gov/paymentsystems/truncation/

Last edited by Kara S; 12/13/02 03:43 PM.
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#48695 - 12/13/02 03:44 PM Re: Check Truncation Act
ahou Offline
Power Poster
ahou
Joined: Aug 2002
Posts: 3,094
I don't believe it has ever been finalized.
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#48696 - 12/13/02 03:46 PM Re: Check Truncation Act
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
Nothing done yet.

Here's the latest status:

S.3034
Sponsor: Sen Johnson, Tim(introduced 10/2/2002)
Latest Major Action: 10/2/2002 Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Title: A bill to facilitate check truncation by authorizing substitute checks, to foster innovation in the check collection system without mandating receipt of checks in electronic form, and to improve the overall efficiency of the Nation's payments system, and for other purposes.
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