12 USC 5017 - Evaluation and report by the Comptroller General

U.S Code last checked for updates: Nov 22, 2024

§ 5017.

Evaluation and report by the Comptroller General

(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

(b)

Report to Congress

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

cite as: 12 USC 5017