§ 5017. Evaluation and report by the Comptroller General

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(a)Study During the 5-year period beginning on October 28, 2003, the Comptroller General of the United States shall evaluate the implementation and administration of this chapter, including—

(1)an estimate of the gains in economic efficiency made possible from check truncation;

(2)an evaluation of the benefits accruing to consumers and financial institutions from reduced transportation costs, longer hours for accepting deposits for credit within 1 business day, the impact of fraud losses, and an estimate of consumers’ share of the total benefits derived from this chapter; and

(3)an assessment of consumer acceptance of the check truncation process resulting from this chapter, as well as any new costs incurred by consumers who had their original checks returned with their regular monthly statements prior to October 28, 2003.

(b)Report to Congress Before the end of the 5-year period referred to in subsection (a), the Comptroller General shall submit a report to the Congress containing the findings and conclusions of the Comptroller General in connection with the evaluation conducted pursuant to subsection (a), together with such recommendations for legislative and administrative action as the Comptroller General may determine to be appropriate.

(Pub. L. 108–100, § 18, Oct. 28, 2003, 117 Stat. 1191.)

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statutes-at-large

Public Law 108–100
To facilitate check truncation by authorizing substitute checks, to foster innovation in the check collection system without mandating receipt of checks in electronic form, and to improve the overall efficiency of the Nation’s payments system, and for other purposes

statute-compilations

Sec. 18
EVALUATION AND REPORT BY THE COMPTROLLER GENERAL

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U.S. Code

Findings; purposes
§ 5001

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Pub. L. 108–100, § 18
117 Stat. 1191
Pub. L. 108–100
117 Stat. 1177
section 20 of Pub. L. 108–100

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§ 5017

Evaluation and report by the Comptroller General

Stat. Comp.×1

Stat.×1

U.S.C.§ 5001

Pub. L.Pub. L. 108–100, § 18

Stat.117 Stat. 1191

Pub. L.Pub. L. 108–100

Stat.117 Stat. 1177

Pub. L.section 20 of Pub. L. 108–100

Cites 6Cited by 2 across 2 sources