§ 5015. Study and report on funds availability

• (a) In order to evaluate the implementation and the impact of this chapter, the Board shall conduct a study of—
  • (1) the percentage of total checks cleared in which the paper check is not returned to the paying bank;
  • (2) the extent to which banks make funds available to consumers for local and nonlocal checks prior to the expiration of maximum hold periods;
  • (3) the length of time within which depositary banks learn of the nonpayment of local and nonlocal checks;
  • (4) the increase or decrease in check-related losses over the study period; and
  • (5) the appropriateness of the time periods and amount limits applicable under sections 4002 and 4003 of this title, as in effect on October 28, 2003 .
• (b) Before the end of the 30-month period beginning on the effective date of this chapter, the Board shall submit a report to the Congress containing the results of the study conducted under this section, together with recommendations for legislative action.