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New Banking Rule Reduces Float Time on Checks

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New Banking Rule Reduces Float Time on Checks

Business

New Banking Rule Reduces Float Time on Checks

New Banking Rule Reduces Float Time on Checks

  • Download
  • <iframe src="https://www.npr.org/player/embed/4129418/4129419" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

A new federal banking rule reduces the float time on checks from several days to one day, or even just a few hours. The banking industry expects to save billions of dollars by moving from paper to digital imaging, but consumer groups warn customers could face bounced checks and the fees they bring. NPR's Cheryl Corley reports.

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