Which of the following is true of the "deferred posting rule"?

A) It allows banks to fix an afternoon hour of 2:00 or later as a cutoff hour for the purpose of processing checks and deposits.
B) According to this rule, when a customer deposits a check for collection, the depository bank does not have to pay the customer until the check clears.
C) It mandates banks to mail their checking account customers monthly statements of their accounts and any canceled checks should accompany this statement.
D) According to this rule, a customer is liable for payment to his bank if he fails to report any unauthorized transactions within 30 days from the receipt of the account statement.

A