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HR 5414 107th Congress House

Check Clearing for the 21st Century Act

Official title: To facilitate check truncation by authorizing substitute checks, to foster innovation in the check collection system without mandating receipt of checks in ele… Show full official titleShow less

Official title: To facilitate check truncation by authorizing substitute checks, to foster innovation in the check collection system without mandating receipt of checks in electronic form, and to improve the overall efficiency of the Nation's payments system, and for other purposes.

Introduced: October 16, 2002 See on congress.gov
Finance and Financial Sector Administrative procedureAutomated clearing housesBank recordsChecking accounts
More subjectsShow fewer subjects
ChecksCivil actions and liabilityCommerceConsumer complaintsConsumer educationConsumer protectionDamagesElectronic funds transfersFederal Reserve SystemFeesFraudGovernment Operations and PoliticsGovernment paperworkIndemnityInterest
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 25, 2002
Subcommittee Hearings Held.
Sep 23, 2002
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Sep 19, 2002
Referred to the House Committee on Financial Services.
Sep 19, 2002
Introduced in House
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 Latest action September 25, 2002

Subcommittee Hearings Held.

 Plain-English summary Congressional Research Service
Check Clearing for the 21st Century Act - Sets forth a statutory framework under which a substitute check is the legal equivalent of an original check for all purposes, if the substitute check: (1) accurately represents all of the information on the front and back of the original check as of the time the original check was truncated; and (2) bears the legend: "This is a legal copy of your check. You can use it the same way you would use the original check." Prescribes implementation guidelines, including: (1) indemnity procedures; (2) substitute check warranties; (3) expedited recredit claims for consumers and for banks; (4) procedures for claims; (5) measure of damages; (6) statute of limitations; and (7) consumer education materials.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 5
All 5 Democratic 2
CARSON, BRAD
· Nov 13, 2002
 D
Thompson, Mike
California · Nov 13, 2002
Toomey, Patrick
· Oct 16, 2002
LUCAS, KEN
· Sep 30, 2002
 D
Norton, Eleanor Holmes
District of Columbia · Sep 30, 2002
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5414: Check Clearing for the 21st Century Act. 107th Congress. Open America. https://openamerica.io/bill/107-HR-5414/
MLA
"H.R. 5414: Check Clearing for the 21st Century Act." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-5414/.
Bluebook (legal)
H.R. 5414, 107th Cong. (2026), https://openamerica.io/bill/107-HR-5414/.
Markdown link
[H.R. 5414: Check Clearing for the 21st Century Act](https://openamerica.io/bill/107-HR-5414/)
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