Check 21 legislation has enabled the check clearing system to transform from paper to electronics, and much more rapidly than some had predicted. As a result of competition with other payment methods, check use has been declining since the mid-1990s, but because of the rapid adoption of...

Statistical estimates indicate that the use of checks in the United States has been declining since the mid-1990s, even as the population and the level of economic activity have been increasing. In contrast, the use of electronic payments has been growing at high and accelerating rates....