Reg CC and Electronically Created Items

Answered by:

Question:

What’s an electronically created check?

Answer:

It’s an electronically created item made to look like it was derived from a paper check, but the paper check never existed. It’s an electronic version of the remotely-created check. These items weren’t being used when Regulation CC was written, but they will be covered under the amendments to the regulation starting July 1, 2018.

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