Panel OKs Check-Clearing Bill

The House Banking Committee, responding to a flood of consumer complaints, passed a bill today to force banks to clear most local checks in one day and out-of-town checks in four days.

The measure, approved on a voice vote, now goes to the full House, where easy passage is expected. Committee Chairman Fernand J. St Germain (D-R.I.) called the problem of check holds “an issue of simple justice” and added, “never has an issue generated more consumer mail in this committee than check holds.”