Fed ready to update check usage information
Northwestern Financial Review, Feb 1-Feb 14, 2007
The Federal Reserve Banks will conduct another round of studies to determine the current composition of the nation's retail payments market, including checks, credit and debit cards, and automated clearing house transactions. Two studies will build on information gained from similar studies published by the Federal Reserve in 2001 and 2004.
One study will quantify the number and value of checks being written in the United States. Another study will quantify the number and value of electronic payments. In addition, the check study will attempt to determine the primary uses tor check writing. The information for this round of studies will be collected during the first half of 2007 with results released later in the year.
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