Federal Reserve Considers Major Changes to Check Services
December 09, 2025
December 09, 2025
WASHINGTON, Dec. 9 (TNSFR) -- The Federal Reserve System has evaluated strategies for the future of the banks' check services, facing declining usage and aging infrastructure. This came as checks, historically a core element of the U.S. payments system, had steadily been replaced by electronic alternatives.
While checks once dominated, making up the vast majority of noncash payments, only about 11 billion were written in 2021. This number represents roughly 5 percent of all non . . .
While checks once dominated, making up the vast majority of noncash payments, only about 11 billion were written in 2021. This number represents roughly 5 percent of all non . . .