Federal · Title 12 — Banks and Banking
12 U.S.C. § 5015: Study and report on funds availability
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the percentage of total checks cleared in which the paper check is not returned to the paying bank; the extent to which banks make funds available to consumers for local and nonlocal checks prior to the expiration of maximum hold periods; the length of time within which depositary banks learn of the nonpayment of local and nonlocal checks; the increase or decrease in check-related losses over the study period; and the appropriateness of the time periods and amount limits applicable under sections 4002 and 4003 of this title, as in effect on October 28, 2003 . Before the end of the 30-month period beginning on the effective date of this chapter, the Board shall submit a report to the Congress containing the results of the study conducted under this section, together with recommendations for legislative action.
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