The Expedited Funds Availability Act (EFA or EFAA) was enacted in 1987 by the
United States ... The law is codified in Title 12, Chapter 41 of the US Code and
Title 12, Part 229 of the Code of Feder...
I know that it's not a real clearing - i.e. if the check happens to be bad (never
happened to me, but so I heard) it can come back a long time after ...
Aug 6, 2013 ... The Check Clearing for the 21st Century Act (Check 21) was signed into law ...
The law does not require banks to accept checks in electronic form nor does it ...
Check-processing speeds should continue to increase, over time, ...
The good news is federal regulation limits the time your financial institution can
.... Keep in mind that funds can be released to you before a check has “cleared.
Sep 29, 2004 ... In another month, checks are likely to bounce much sooner than before if you
write them with insufficient funds in your checking account.
Apr 1, 2015 ... How fast will that check clear? ... your account and it would be available
immediately, and other times it would take a few days to clear. ... The law broke
banks down into geographic zones, providing different holding periods ...
Mar 6, 1988 ... They asked the buyer of the co-op to furnish a certified check at the first ... area,
the holding time is extended to three business days for commercial ... which has
issued proposed regulations to put the new law into effect, says it ...
Mar 22, 2014 ... People will no longer have to wait nearly a week for banks to clear cheque
payments after a change in the law later this year.
The checks you write might be "clearing" - the money is being taken out of your ...
A federal rule governs the maximum time your bank can wait before making ... A
new federal law known as the "Check 21 Act" makes it easier for banks to create
(See Public Laws for the current Congress.) ... (3) Time period adjustments for
cash withdrawal of certain checks ... and (e) to as short a time as possible and
equal to the period of time achievable under the improved check clearing system
for a ...