Check Clearing House Law and Legal Definition

According to 12 CFR 233.2 [Title 12 -- Banks and Banking; Chapter II -- Federal Reserve System; Subchapter A -- Board of Governors of the Federal Reserve System; Part 233 -- Prohibition on Funding of Unlawful Internet Gambling (Regulation GG)], check clearing house means “an association of banks or other payors that regularly exchange checks for collection or return.”