WASHINGTON -- A new Federal law allowing for all-electronic check transaction processing promises to make having reliable and secure network services even more of a necessity going forward. On Oct. 28 ...
Could bounced checks be a thing of the past? Fed seeks public input on ending paper check processing
The Federal Reserve Board has announced that it is formally exploring significant changes to its check-processing services, including the possibility of ending them entirely. In a press release ...
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Federal Reserve mulls shutting down check services amid falling usage and rising fraud risks
・The Fed outlined multiple paths for the future of check processing as infrastructure needs grow. ・Digital payments are rising even as check fraud increases and volumes decline. ・Vice Chair Michelle ...
When was the last time you wrote a paper check? If the answer is a long time, that's exactly why the Fed says they're starting to explore winding down their check processing services--a move that ...
WASHINGTON (AP) -- People are writing fewer checks, so the Federal Reserve is consolidating most check-processing operations into four regional centers and cutting 1,740 positions around the country.
The Federal Reserve is considering phasing out paper checks, a move that could make checkbooks as outdated as pennies. The central bank has asked the public to weigh in over the next 90 days on ...
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