Which one of the following is an expected result of the Check Clearing Act for the 21^st Century? A)Firms will have to wait three days before having access to their deposited funds. B)Zero-balance accounts will be eliminated. C)Lockboxes will be prohibited. D)Collection float, but not disbursement float, will be reduced. E)Both collection and disbursement float will be reduced.

Question

Quizplus · Accepted Answer

The Check Clearing for the 21st Century Act, also known as Check 21, allows banks to handle checks electronically, which speeds up the check clearing process and reduces both collection and disbursement float.

Which One of the Following Is an Expected Result of the Check