May 19, 2013

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Checks Clear Faster Under New Law

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10-28-04 - NEW YORK (AP) Don't write a check you can't cover now. A new check processing system goes into effect Thursday that speeds the time it takes for a check to clear.

Consumer advocates say Americans need to closely watch their accounts to avoid bouncing checks and racking up fees and penalties.

The Check Clearing for the 21st Century Act, better known as Check 21, lets financial institutions exchange electronic images of checks rather than the paper itself.

Consumers who still get checks back with bank statements will likely begin seeing images of some checks among the paper ones.

It could take years for the entire system to kick in. An expert at Forrester Research estimates it will be the end of the decade before all banks and credit unions digitally process checks from start to finish.

Consumer advocates also say people need to watch statements to be sure no checks are debited twice.


In The Community

Sherman Public Library Summer Reading Club sign ups

Posted: 05/08/13 - The Sherman Public Library is very excited about our upcoming Summer Reading Club for children and teens. Children ages birth-11 can Dig into Reading and join the Youth Summer Reading Club. The theme for the Teen Summer Reading Club this year is Beneath the Surface and it is open to teens ages 12-18. Read More

Southeastern Spring Commencement set for May 11

Posted: 05/07/13 - DURANT, Okla. – Regent Terry Matlock will deliver remarks at Southeastern Oklahoma State University’s Spring Commencement, scheduled for Saturday, May 11, at Paul Laird Field. The ceremony (for all schools) will begin at 10 a.m. A reception will follow at 11:30 a.m. in the Visual & Performing Arts Center. Read More

Austin College Commencement Celebration Nearing

Posted: 05/06/13 - SHERMAN, TEXAS—Members of the Austin College Class of 2013 are counting down the days until graduation—with both excitement and trepidation. Austin College President Marjorie Hass will present diplomas to more than 340 bachelor’s degree candidates and 18 Master of Arts in Teaching degree candidates who will take part in graduation events May 18 and 19 on campus. Read More

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