I am assuming that you are talking about the Check 21 Act.  Could you send the citation to the article?  Check 21 is interesting because, while it does not make it mandatory, it is designed to encourage banks to go to electronic transactions and away from paper.  It has interesting implications for more than just banks, however.  For example, it allows companies like AT&T to use electronic funds transfers rather than actually submitting a customer's check sent to pay a bill.  It will also necessitate changes in personal recordkeeping for many people.


Rosemary Pleva Flynn
Energy & Environmental Research Center
University of North Dakota
Box 9018
Grand Forks, ND 58202

-------------- Original message from Chris Flynn : --------------

> I was reading the paper (yes Bill, I know how to read) and the article was
> addressing the new banking regs. The new regs allow 24 hour turnaround. They
> do this by imaging the check and disposing of the original (cool so far).
> However, the regs (according to the article), stipulate that the digital
> image is not a record. To get a record, carrying the same force of law as
> the original, a hard copy must be generated. Even Bill Roach in the dead of
> winter would not come up with a more backward way of addressing this issue.
> Tell me it ain't so.
> Chris Flynn
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