Legal and Regulatory:
Recently Enacted Legislation of Interest

The following list includes links to the web site of the Government Printing Office for the official text of the final legislation and to the "Thomas" web site maintained by the Library of Congress for the legislative summaries. The OCC is not responsible for the preparation of the legislative summaries on "Thomas," and we cannot therefore ensure that they are accurate, complete or up-to-date.

Bankruptcy Abuse and Consumer Protection Act of 2005 Check 21 Act

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Pub. L. No. 109-8 enacted April 20, 2005 effective October 17, 2005. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 addresses many areas of bankruptcy practice, including consumer bankruptcy, general and small business bankruptcy, treatment of tax claims in bankruptcy, ancillary and cross-border cases, financial contract protection amendments to chapter 12 governing family farmer reorganization, and special protection for patients of a health care business filing for bankruptcy. These reports summarize the provisions of the Act. Summary of Bankruptcy Abuse and Consumer Protection Act of 2005, OCC Summary . Check Clearing for the 21st Century Act, Pub. L. No. 108-100, enacted October 28, 2003, effective October 28, 2004.   The "Check 21 Act" enables banks to lawfully convert paper checks to purely electronic formats (which can be processed, stored, and transported more efficiently) and to generate substitute paper checks in lieu of the original when requested by customers or other banks.  It also imposes new requirements on all banks (even those that do not engage in check truncation).  Summary of Check Clearing for the 21st Century Act.