http://www.informationweek.com/story/showArticle.jhtml;jsessionid=BBDO3RNRETRB0QSNDBCSKHSCJUMEIJVN?articleID=10300733
Largest Overhaul Of Check Processing In 50 Years In Sight June 10, 2003 Congress is expected to pass legislation that would expand the use of electronic images of checks, saving banks billions of dollars. By Steven Marlin The process by which banks clear and settle billions of checks is about to get its biggest overhaul in 50 years, thanks to legislation making its way through Congress. The Check Clearing for the 21st Century Act, Check 21 for short, would expand banks' ability to exchange electronic images of checks instead of the paper originals, saving them billions in transportation and related costs. Today, banks can only exchange check images through bilateral or multilateral agreements. Check 21 eliminates the need for such agreements, freeing banks to transmit images at will. .. snip .. -- Internet trivia, 20th anv: http://www.garlic.com/~lynn/rfcietff.htm
