Sec. 333. STUDY ON CHECK-RELATED FRAUD
183 words·~1 min read·
/statute-compilations/comps-10825/sec-333A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 333 STUDY ON CHECK-RELATED FRAUD **[**[12 U.S.C. 4801](/us/usc/t12/s4801) nt**]** ###
(a)Study The Board of Governors of the Federal Reserve System (hereafter in this section referred to as the “Board”) shall conduct a study on the advisability of extending the 1-business-day period specified in section 603(b)(1) of the Expedited Funds Availability Act, regarding availability of funds deposited by local checks, to 2 business days. ###
(b)Considerations In conducting the study under subsection (a), the Board shall consider— ####
(1)whether there is a pattern of significant increases in check-related losses at depository institutions attributable to the provisions of the Expedited Funds Availability Act; and ####
(2)whether extension of the time period referred to in subsection
(a)is necessary to diminish the volume of any such check-related losses. ###
(c)Report to the Congress Not later than 2 years after the date of enactment of this Act, the Board shall submit a report to the Congress concerning the results of the study conducted under this section and including any recommendations for legislative action. **[**Sections 334 through 340 amended other laws.**]**
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 333
STUDY ON CHECK-RELATED FRAUD
Cites 1Cited by 0 across 0 sources