New law: Check 21 speeds up check processing
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It is two days before payday and you are almost out of gas. To pay for it, you write a check. You hope it takes two or three days before it hits your bank, and by then, your paycheck will be deposited.
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WASHINGTON - A new $50 bill with touches of red, blue and yellow will be showing up soon at banks, in cash registers and wallets. A new $10 bill also is in the works, the third greenback to get colorized to cut back on counterfeiting...
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Every night, millions of cashed checks fly around the country, headed for their home bank. Starting in October, technology will start to ground many of those flights.
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SAN FRANCISCO (CBS.MW) - The Check Clearing Act for the 21st Century, or Check 21, goes into effect this Thursday without a visible hitch.
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WASHINGTON - A new $50 bill with touches of red, blue and yellow went into circulation Tuesday and soon will be showing up at banks, cash registers and wallets.
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In the next few weeks, consumers will start receiving notices from banks and other financial institutions about changes to their checking accounts.
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SEATTLE - Next time you write a check, be prepared for the money to come out of your account in record time. A new law gives banks access to your money within hours.
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The Check Clearing for the 21st Century Act - commonly known as Check 21 - went into effect on Thursday. It&#39;s important for you to know about this important change in the nation&#39;s banking practices.
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The Check Clearing for the 21st Century Act, or Check 21, will supposedly revolutionize the check-clearing process. It is the most significant change since banks actually started clearing checks.
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Consumer advocates are urging bank customers to be more careful about the checks they write now that new federal regulations designed to speed up check processing have taken effect.
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Newest version of automated management programs ships Monday.
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Floating a check became riskier Thursday under a new law that makes it possible for banks to process them in a matter of hours, rather than days.
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known simply as Check 21 â-oes into effect today and is expected to cut down the amount of time it takes for checks to clear the bank.
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l Easier to bounce checks: Checks consumers write that used to take up to five days to clear will be debited from their accounts in just hours.
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Wal-Mart is expanding its financial services, offering check cashing and money orders along with a new prepaid debit card in its ongoing effort to persuade shoppers to spend more time and money in its stores.
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Mobile payments and banking are now moving into the U.S. through some big names, but the speedy checkout system is slow to put in place.
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With two new services aimed at speeding the trip to the gate, more travelers will soon be able to zip through airport security without waiting in line.