Check 21 Act

They're eating very nicely steaks at their country clubs.

I see them around Washington, D.C. Let me tell you, Jason, part of my anger on this is I helped write the Check 21 law that created the technology that allows Americans to deposit their paycheck on their phone.

We did that because back in 2001, after 9-11, the Fed realized that the banks had problems when you couldn't fly planes for a week because we used to fly all our checks around.

And the Fed was being responsible and said, we want to pass a new law to stop flying all these checks around and save everybody money out of the system.

That is a very small problem.

And the result of that was that legislation that, you know, the short version name of the legislation was Check 21.

Right.

But it became an implementation because, you know, image technology for banks existed at the time and it was being used, but it was considered expensive, something only the big banks would do.