Central Banking

Greenspan praises electronic checks bill

Speaking on Wednesday 29 October Alan Greenspan praised legislation passed by Congress and signed into law by President Bush on Tuesday that allows banks to clear checks electronically, potentially slashing paperwork. The law will let banks approve digital images of checks rather than physically transporting them between financial institutions.

Source: Associated Press

As the number of checks written in the United States declines and electronic payments like debit cards rises, the nation's

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