Under the Check 21 Act:
A) banks must accept checks in electronic form.
B) banks are permitted to truncate original checks and process check information electronically.
C) banks must create substitute checks which are the legal equivalent of the original checks.
D) banks must keep the paper checks on file for 90 days.

Question

Quizplus · Accepted Answer

The Check 21 Act allows banks to truncate original checks and process the information electronically, enabling faster and more efficient check processing.