Regulation J
- Rules developed by the Federal Reserve Board for overseeing the process of gathering checks and other forms of cash and non-cash payments, as well as handling return check situations within Federal Reserve Banks
- Banks must adhere to Regulation J when dealing with check collections and handling returned checks.
- Regulation J outlines the procedures for handling non-cash items within Federal Reserve Banks.
- In the event of a returned check, Regulation J provides the guide on how Federal Reserve Banks should proceed.
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