Central Banking

US plan to e-process checks has critics

A Federal Reserve proposal to allow banks to process checks electronically and substitute a new type of check for traditional paper checks has been endorsed by the banking industry. But consumer groups say it would increase the risk of processing errors and eliminate choice for people.

Source: Associated Press

Consumer groups are opposing the Federal Reserve's proposal to allow banks to process checks electronically and substitute a new type of check for traditional paper checks, saying it

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