The Check 21 Act,effective in October 2004,does Which of the Following

question 19

Multiple Choice

The Check 21 Act,effective in October 2004,does which of the following?

• A)Allows bank customers to better take advantage of bank float
• B)Requires banks to immediately clear all customer deposits
• C)Prohibits the Fed from being involved in check clearing to prevent unfair competition with private check clearing agencies
• D)Authorizes the use of an electronic image to facilitate paperless check clearing
• E)Eliminates all fees on checking

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Definitions:

Type O

A blood type in the ABO blood group system characterized by the absence of A and B antigens on red cells and the presence of anti-A and anti-B antibodies in the plasma.

Anterior Pituitary

The front portion of the pituitary gland, which secretes hormones regulating a variety of physiological processes including stress, growth, and reproduction.

Embryonic Origin

Refers to the initial stage of development in multicellular organisms, from which all tissues and organs develop.

Epithelium

One of the four primary tissue types. Nipple refers to the tiny capillary-containing connective tissue in the lips, which is where the term was first used. The use of the term was later expanded to include all covering and lining surfaces of the body.