The Check 21 Act is an initial step toward more efficient and secure processing and clearing of checks. Currently, the check processing system relies on physically transporting paper checks from one location to the next. The Check 21 Act will foster the electronic processing of checks, decreasing processing time and transportation costs while reducing the likelihood of items being lost or destroyed in transit.
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* Rate of reimbursement based on actual fees reimbursed 12/1/2006 to 8/31/2009.