MAC(redirected from macks)
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Related to macks: Marks, MACS
Monetary Control Act of 1980 (MAC)
Act which requires that all banks and all institutions that accept deposits from the public make periodic reports to the Federal Reserve System. Starting in September 1981, the Fed charged banks for a range of services that it had provided free in the past, including check clearing, wire transfer of funds and the use of automated clearinghouse facilities.