CHECK 21 ACT.

The article presents the U.S. Government Accountability Office's (GAO) report concerning the Check Clearing for the 21st Century Act of 2003 (Check 21). It was designed to make check collection more efficient and less costly by a wider use of electronic check processing. GAO found that the consumers accepted the Act and banks progress to full adoption of check truncation. Consumers benefited from receiving simpler imaged account statements and immediate access to information check payments.