Definitions Edit

Data Edit

Truncate means

[t]o delete characters from a character string, usually from either end of the string.[1]

Financial institution Edit

Truncate means

to remove an original paper check from the check collection or return process and send to a recipient, in lieu of such original paper check, a substitute check or, by agreement, information relating to the original check (including data taken from the MICR line of the original check or an electronic image of the original check), whether with or without subsequent delivery of the original paper check.[2]

References Edit

  1. Emphasis Needed on Government's Efforts To Standardize Data Elements and Codes for Computer Systems, Glossary of Terms, at 62.
  2. 12 U.S.C. §5002(3)(18).

See also Edit

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