ABA Is Educating Media, Consumers About Check 21

To the Editor:

As a financial tool, float has been disappearing since the days of the Pony Express. Our industry's job from here on is to educate customers that the advantages of Check 21 - more efficient and less costly check processing and increased protection against fraud - outweigh any inconvenience. With the Oct. 28 implementation date, we don't have much time left.

Your article got it right ["Early Notes: Updating Consumers on Check 21," Aug. 10], but we've found that many general news reporters are confused about what constitutes a substitute check and what bank customers will actually see from their banks.

For that reason, the ABA has been working with financial reporters and others in the news media to make sure they get the story straight. In September we will distribute a video news release to television networks across the country, and we will provide spokespeople for national radio interviews.

The ABA's Web site also provides Check 21 information for both bankers and consumers. We're also providing banker resources - a Check 21 Toolbox, fact sheets, and statement-stuffer brochures - so that our members can communicate directly with their customers.