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More Steps Toward Fully Electronic Interbank Check Collection And Return: Amendments To Federal Reserve Board Regulation Cc And A Regulatory Resolution Of A Circuit Split, Sarah Jane Hughes
More Steps Toward Fully Electronic Interbank Check Collection And Return: Amendments To Federal Reserve Board Regulation Cc And A Regulatory Resolution Of A Circuit Split, Sarah Jane Hughes
Articles by Maurer Faculty
This article analyzes two actions in 2017 and 2018, respectively, by the Board of Governors of the Federal Reserve System that amend Regulation CC, which governs expedited deposit availability and collection of checks generally and implements the Expedited Funds Availability Act of 1987 and the Check Clearing for the 21st Century Act of 2003. It selects examples from the two sets of amendments that highlight regulatory strategies being used by the Board to facilitate faster payments through the movement of electronic images of checks or electronic information among banks in the check-collection process. Those strategies involve creation of new forms …