|
|  |
|
|
Accounts Receivable Check (ARC) Conversion
Is the Promise of ARC Nearing Extinction? Far from it.
 Don't be so quick to jump on the Check 21 band wagon! Orginally brought into effect March 21, 2002, Accounts Receivable Check (ARC) Conversion has seemingly been a very confusing journey for most. Lately it has gone through some extensive changes. It is now a 8-month old NACHA standard entry class code (Accounts Receivable Entry) for ACH debit entries that begin their lives as checks received in a lockbox or drop box.
[FULL STORY]
|
Check 21
Are you ready?
 The Check 21 Act is being viewed as the most significant federal check law passed in recent times and will affect all banks over time. It is designed to improve check-clearing efficiency by facilitating check truncation and the optional use of imaging in the check clearing and settlement process. Therefore, it is essential that all become familiar with the new law – understand what it does and does not do.
[FULL STORY]
|
Anti-Money Laundering
How well do you know your customers?
 The USA Patriot Act brings sweeping changes in the way organizations and government agencies share and report information. It requires strict procedures and controls for screening clients and transactions against government lists of suspected terrorists and other criminals. Failure to comply can result in penalties of up to $1 million and even prison time.
[FULL STORY]
|
|
|
|
