Check 21 law not likely to affect check haulers | Aviation International News

Regulations and Government

Check 21 law not likely to affect check haulers

What does Federal Reserve chairman Alan Greenspan have to do with the market value of Mitsubishi MU-2s?

Late last year, flying overnight check r

January 30, 2007

What does Federal Reserve chairman Alan Greenspan have to do with the market value of Mitsubishi MU-2s?

Late last year, flying overnight check runs (long recognized as one of the ideal turbine-time builders for budding professional pilots) appeared poised to fall victim to the digital age. Legislation known as “Check 21” became law, clearing the way for banks to cancel checks electronically through the “Fed” without transporting the actual paper. A monumental time and cost saver for the banking industry, the new law will go into effect in October.

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