Check 21 Final Rule?

Posted By: SteveKM

Check 21 Final Rule? - 07/07/04 01:01 PM

The comment deadline was almost 4 months ago. Is there any scuttlebutt as to when the final rule will be released

- Thanks....
Posted By: Bear Collector, CRCM

Re: Check 21 Final Rule? - 07/07/04 05:50 PM

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
Posted By: Rubaiyat

Re: Check 21 Final Rule? - 07/07/04 06:00 PM

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!
Posted By: Nanwa

Re: Check 21 Final Rule? - 07/08/04 07:48 PM

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

Re: Check 21 Final Rule? - 07/12/04 09:33 PM

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.
Posted By: Tina A Sweet

Re: Check 21 Final Rule? - 07/15/04 04:17 PM

I feel with all the changes lately, this is an overwhelming job.
Posted By: Anonymous

Re: Check 21 Final Rule? - 07/21/04 10:14 PM

We heard at a recent seminar by the Fed that the final will not be available until August 28!
Posted By: Bill Saffici

Re: Check 21 Final Rule? - 07/22/04 03:49 AM

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.
Posted By: SteveKM

Re: Check 21 Final Rule? - 07/26/04 08:44 PM

They just released the final about an hour ago.
Final rule for Check 21
Posted By: John Burnett

Re: Check 21 Final Rule? - 07/27/04 04:08 PM

And HERE is a link to our Check 21 Article dissecting the final rule's high points.