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 ...

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 ...

・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 it comes to paying for their groceries, consumers still like to whip out their checkbooks. According to a study released by the Food Marketing Institute, Washington, in 2000, checks made up 33% ...

The Federal Reserve is quietly preparing a fundamental rethink of how it provides core banking services, from the price of processing checks to the way it supervises the smallest community lenders.

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.