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TeachMeFinance.com - explain Clearing house agent historic definition... Clearing house agent -- Same as redemption agent; a name given to a bank which is a member of the clearing house and clears for another bank which is not a member. In New York a bank which is a clearing house member can act for a bank which is not a member only by consent of the clearing house committee. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.