Under the Check Clearing in the 21st Century Act,a Bank

question 19

True/False

Under the Check Clearing in the 21st Century Act,a bank has to credit a customer's account as soon as the bank receives the funds.

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Definitions:

Funding

The act of providing financial resources to finance a need, program, or project.

Raw Materials

The basic substances or components used in the production or manufacturing of goods.

Contractor

An individual or company that undertakes a contract to provide materials or labor to perform a service or do a job.

Employee

An individual who works part-time or full-time under a contract of employment, providing their services in exchange for compensation.