The Bankwatch

Tracking the consumer evolution of financial services

US Federal reserve will nor process paper cheques after 2010

 The US Federal Reserve continue to close cheque processing facilities bringing their network to less than half of what it was as recently as 2003.

By 2010 we will only support Check 21,” said Terry Roth, a vice president with the Fed’s retail payments office.

Source: Small Business News Network – Barlow Research Associates, Inc.

 

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Written by Colin Henderson

March 12, 2007 at 12:13

Posted in Payments

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