Content area

Abstract

The Federal Reserve Banks recently announced changes to their check operations as consumers and businesses continue to shift away from using paper checks and toward electronic payments. As part of a longer-range strategy, the Federal Reserve Banks have selected Philadelphia, Cleveland, Atlanta, and Dallas as regional check processing sites that are expected to provide the full range of check processing services through at least mid-2011. Other remaining sites will have their operations scaled back. The scaled-back sites will all print substitute checks, but some will also capture paper checks. The regional sites will provide a full range of check processing services and receive processing volumes from the other sites in a phased transition.

Details

Company / organization
Title
Federal Reserve to Change Paper Check Processing Operations
Author
Publication title
Teller Vision; Waterford
Issue
1361
Pages
6
Number of pages
1
Publication year
2007
Publication date
Sep 2007
Publisher
Aspen Publishers, Inc.
Place of publication
Waterford
Country of publication
United States
ISSN
08951039
Source type
Trade Journal
Language of publication
English
Document type
News
ProQuest document ID
230428692
Document URL
https://www.proquest.com/trade-journals/federal-reserve-change-paper-check-processing/docview/230428692/se-2?accountid=208611
Copyright
Copyright Aspen Publishers, Inc. Sep 2007
Full text availability
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Last updated
2024-11-19
Database
ProQuest One Academic