Fed Seeks Input on Keeping Ancient Check Records Alive
Published Date: 4/30/2025
Notice
Summary
The Federal Reserve wants to keep and update rules about how banks keep records and share info about checks for three more years. This affects banks and anyone who uses checks, making sure everything stays clear and fair. They’re asking for your thoughts before making these changes official, so now’s the time to speak up!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Regulation CC Recordkeeping Extended 3 Years
The Federal Reserve proposes to extend, with revision, the recordkeeping and disclosure requirements associated with Regulation CC (FR CC; OMB No. 7100-0235) for three years. This keeps rules about how banks keep records and share information about checks in place while the Board asks for public comment.
Checks Users Keep Disclosure Protections
The proposal keeps and updates rules that affect people who use checks by keeping requirements about how banks disclose check information and maintain records. The Board is seeking public comment while proposing the three-year extension of these requirements under Regulation CC.
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