With Month To Go Til Check 21, Some See A Fee Frenzy.

Consumer groups are worried financial institutions are licking their chops over a potential surge in bounced checks-and fee income-following the Oct. 28 implementation of the Check Processing for the 21st Century Act (Check 21).

But some experts question how quickly consumers will feel the loss of "float."

"I don't think most people expect any magic switch flipped on come Oct. 28 that will trigger a flood of imaging and possible substitute checks," said Kathy Thompson CUNA SVP-regulatory compliance. "The law doesn't mandate imaging, and since the great majority of credit unions already truncate, people with credit union share draft accounts are even less likely to feel …