In 2004, the Federal Reserve Board (FRB) implemented the federal "Check 21"Act as a new Subpart D to Regulation CC. A significant facet of this legislation is the substitute check,a paper replacement check that contains the same information and has the legal status as an original check.
NOTE: The Substitute Checkssetup area in Expere is intendedfor setting up the account opening disclosure only. This disclosure is not an appropriate locationfor customizing contractual account terms relatingto the processing of substitute checks. (Some industry expertshave recommended variouscontractual provisions attempting to limit financial institution obligations with respectto some items.)