CLEARINGHOUSE

clearinghouse. 1. A place where banks exchange checks and drafts and settle their daily balances; an association of banks or other payors regularly clearing items. See UCC § 4-104(a)(4). [Cases: Banks and Banking  318–323. C.J.S. Banks and Banking §§ 647–649.] 2. A stock-and-commodity exchange where the daily transactions of the brokers are cleared. 3. Any place for the exchange of specialized information. — Also written clearing house. [Blacks Law 8th]