United States Code
USC most recently checked for updates: Jun 04, 2023
Evaluation and report by the Comptroller General
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—
an estimate of the gains in economic efficiency made possible from check truncation;
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
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
October 28, 2003.
Report to Congress
Before the end of the 5-year period referred to in subsection (a), the Comptroller General shall submit a report to the Congress containing the findings and conclusions of the Comptroller General in connection with the evaluation conducted pursuant to subsection (a), together with such recommendations for legislative and administrative action as the Comptroller General may determine to be appropriate.
(Pub. L. 108–100, § 18,
Oct. 28, 2003, 117 Stat. 1191.)
cite as: 12 USC 5017