Check Truncation Act

Summary

Check Truncation 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.

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Timeline

1. 2 October 2002

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 2 October 2002

   Introduced

   Sponsor introductory remarks on measure. (CR S9852)

   Source: IntroReferral

3. 2 October 2002

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 2 October 2002 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 2 October 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 2 October 2002

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 October 2002

  Open at official source

Sponsors

• Rep. Johnson, Tim [D-SD-At Large] · D · Sponsor
• Rep. Carper, Thomas R. [D-DE-At Large] · D · Sponsor
• Sen. Miller, Zell [D-GA] · D · Cosponsor
• · ssbk00 · Standing

Related records

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