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 ...
Oct 17, 2013 ... The EFAA also gave the Board the authority to regulate the nation's check-
clearing system more generally. Pursuant to this authority, the Board ...
Mar 19, 2015 ... The good news is federal regulation limits the time your financial .... in mind that
funds can be released to you before a check has “cleared.
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 ...
... when it will let you access money after you deposit a check but federal law
establishes the maximum length of time a bank or credit union can make you wait
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
Waiting for a deposited check to clear in your bank account might be frustrating.
... The time of day you deposited the check into the ATM will influence the .... an
account does not "feel" like something our government would put in as a Law.
Nov 6, 2014 ... 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 ...
Feb 23, 2016 ... Checks can take a few days (or longer) to clear as banks process payments. ...
but that timeline is compressing rapidly since the Check 21 law passed. Any time
you write a check, it's best to act as if the money is no longer in ...