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 ...

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.

The number of check-processing facilities has been trimmed from 45 in 2003 down to 22 currently. The processing centers are operated by the Federal Reserve's regional banks to provide banking services ...