Payment clearing is important to ensure that the payment is transferred or the cash from one bank account moves to the other bank. The banking system in Iraq follows two sorts of clearance systems which are the IBCS (Inter Bank Clearing System) and C-ACH (Check Automated Clearing House System)....

Using hand-collected race information of small business owners that concealed their race in Paycheck Protection Program applications, we find evidence that not disclosing race information in loan applications pays off significantly. Our results show that black-owned businesses that concealed...

This paper investigates the political bias of French fact-checkers. I collect a dataset including all articles published by 7 fact-checkers until July 2021. I study the political orientation of politicians fact-checked. First, I document a selection bias: the right-wing fact-checker is less...

When management decide to replace an IT system, data will be migrated from the old into the new system. If the data is business-critical, the board will expect assurance that the conversion process will not result in data errors or other problems once the new system goes live. If there are...

The study aimed to determine the usefulness and adoption of Palay Check ( Rice check) technology. The study used both qualitative and quantitative methods, specifically correlational and case study research designs. Respondents of the study were the 78 small-holder farmers in San Mateo, Isabela....

A common corporate cash management strategy is to delay payments owed to suppliers. We examine whether buyers pay suppliers faster in response to a recent regulatory change in the United Kingdom that mandates the public disclosure of buyers’ payment practices. We find that after the regulatory...

Consumer payments in the United States gradually have been shifting away from paper checks for the past several years. Cash use has declined as well, although at a much slower pace. As the number of check payments has decreased, those payments have been replaced with electronic and card...

The purpose of this paper is to examine the wealth effect of the Check Clearing for the 21st Century Act, also known as Check 21, on bank stock return. We use event study analysis on thirty-four U.S. bank stocks listed on the New York Stock Exchange. Our analysis reveals that Check 21 is...

The incorporation of new technologies to financial activities implies challenges and opportunities to financial authorities. They are reacting to the unavoidable trend towards digitalization of financial activities with the objective of preserving stable and efficient payment and financial...

In this Data Point we present the results of several analyses of consumers' experiences with overdrafts at a number of large banks. In many instances we break down our results by an account holder's status under Regulation E requirements (also known as “opt-in status”). This refers to the...

India's demonetisation of November 2016 has become a major trigger for the country to move towards digitization and become a cash-free country. Though in their nascent stages, newer and potentially disruptive innovations such as Cryptocurrencies and Blockchain have the potential to replace paper...

This contribution deals with the conflict-of-laws principles governing Financial Instruments, Bonds & Loans, Cheques, Bills of Exchange and Guarantees. It starts with comparative and historic aspects and then goes on to deal with issues regarding the determination of the applicable law. The...

Clearing has been an important part of the banking system and will always remain a part of it for years to come. Clearing in banking indicates the transfer of fund from one person to another. This clearing of fund can take place in 2 ways either through cash or through cheque. There has been no...

The essay starts out by explaining the inevitable demise of the cheque because of the increasing use of electronic funds transfers. However, as the latter pose new problems, the essay considers the possible codification of electronic payments law, with special reference to the directives of the...

Data from a nationally representative sample are used to examine the link between credit scores, frequently used for job screening, and the probability of employment. This freely available survey contains information which closely approximates a standard FICO score. We model the probability of...

Research topic to study Islam to the people of Sistan local clothing is contemporary in field research methods such as participant observation, interviews and documentary techniques to gather the required information has been a main objective in this study changes in models and designs and...

The Consumer Financial Protection Bureau (CFPB) released a data point update of its ongoing analyses of overdrafts. We review the report and provide commentary on its findings, methodology and the inferences of this update, specifically the potential to further restrict debit card overdrafts. We...

Over the years, banks have been introducing automation to their own respective cheque collection podecures. Particularily, interbank facilities and large institutions have developed automated systems using cutting age technology in which very little is done manually and at the branch level

This paper investigates the impact that the emergence of Automated Funds Transfer (AFT) payments has had on cheque use in Canada. We find that AFT payments have played a role in the declining use of cheques during the past decade. Nevertheless the use of cheques remains moderately high in Canada...

The purpose of this article is to examine the law governing the misuse of cheque cards and credit cards in the context of possible reform. The civil law in relation to credit cards and cheque cards is reviewed, although the civil law gives little guidance about the latter. The article focuses on...

The bill of exchange, the promissory note and the cheque are debt instruments regulated by the bill of exchange law. The debt instruments are differentiated from other instruments used in civil and commercial relations by the inclusion of the debt in the instrument, hence the name of debt...

A legal obligation envisages performance and is extinguished when the required performance is duly made. Monetary obligations must normally be discharged by the payment of the appropriate sum of money, that is to say, by means of legal tender. It is trite that a cheque is not legal tender and...

The corporations are run by natural persons and these peoples' actions can be criminal, tortuous and contractual in nature and can sometimes even result in great economical as well as human loss to the society. The directors are ultimately held responsible for the wrongs of the companies as they...

Special Purpose Acquisition Companies (SPACs), a particular type of blank check firms, have risen dramatically since 2003 and account for one third of the U.S. IPO market in 2008. Compared to other public acquirers, SPACs tend to make focused acquisitions, target mostly private companies, are...

Students of U.S. banking history typically hold that the check collection industry was excessively costly prior to 1915 and that the Fed's subsequent entry into check clearing improved efficiency. The authors propose an alternative view based on the economics of network communications...

Check collection has a puzzling feature. The collecting bank earns one day's additional interest by presenting a check to the paying bank one day sooner. The puzzle is that it is difficult to identify a commensurate social benefit associated with presenting a check one day earlier. Collecting...

Twelve years ago, new regulations dramatically changed the manner in which the federal income tax system determines how business entities are taxed. These new explicitly elective quot;check-the-boxquot; regulations for entity classification replaced a multi-factored corporate resemblance test...

Alternative payment instruments are studied in an economy with private information, delayed communication, and limited commitment. Attention is restricted to checks and bank drafts, which differ in resource cost and communication characteristics. Checks are less costly but settlement delays...