12 U.S. Code § 5015 - Study and report on funds availability

(a) Study
In order to evaluate the implementation and the impact of this chapter, the Board shall conduct a study of—
(1) the percentage of total checks cleared in which the paper check is not returned to the paying bank;
(2) the extent to which banks make funds available to consumers for local and nonlocal checks prior to the expiration of maximum hold periods;
(3) the length of time within which depositary banks learn of the nonpayment of local and nonlocal checks;
(4) the increase or decrease in check-related losses over the study period; and
(5) the appropriateness of the time periods and amount limits applicable under sections 4002 and 4003 of this title, as in effect on October 28, 2003.
(b) Report to Congress
Before the end of the 30-month period beginning on the effective date of this chapter, the Board shall submit a report to the Congress containing the results of the study conducted under this section, together with recommendations for legislative action.

Source

(Pub. L. 108–100, § 16,Oct. 28, 2003, 117 Stat. 1190.)
References in Text

This chapter, referred to in subsec. (a), was in the original “this Act”, meaning Pub. L. 108–100, Oct. 28, 2003, 117 Stat. 1177, which is classified generally to this chapter. For complete classification of this Act to the Code, see Short Title note set out under section 5001 of this title and Tables.
The effective date of this chapter, referred to in subsec. (b), is at the end of the 12-month period beginning on Oct. 28, 2003, except as otherwise specifically provided in this chapter, see section 20 ofPub. L. 108–100, set out as an Effective Date note under section 5001 of this title.

This is a list of parts within the Code of Federal Regulations for which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


12 CFR - Banks and Banking

12 CFR Part 210 - COLLECTION OF CHECKS AND OTHER ITEMS BY FEDERAL RESERVE BANKS AND FUNDS TRANSFERS THROUGH FEDWIRE (REGULATION J)

12 CFR Part 229 - AVAILABILITY OF FUNDS AND COLLECTION OF CHECKS (REGULATION CC)

 

LII has no control over and does not endorse any external Internet site that contains links to or references LII.