Federal Reserve to Scale Back Check Processing Operation
Tip It!It’s interesting to see how rapidly we’ve transformed into an online world… In late June, the Federal Reserve announced that they are changing their check processing operations. Given the ongoing shift from paper checks to electronic payments, they’re consolidating regional check processing in Philadelphia, Cleveland, Atlanta, and Dallas. Other sites will see their operations scaled back. For example, 210 workers in Minneapolis will be phased out between now and mid-2009.
[Source: Bizjournals.com]
Published on July 11th, 2007 - 2 Comments
Filed under: Banking
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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July 11th, 2007 at 12:15 pm
Actually, here in Cincinnati, they are letting some people go. I thought they were actually going to close the Federal Reserve Bank here in Cincinnati.
July 20th, 2007 at 10:51 pm
the Fed are a bunch of citizen robbing skanks that run an illegal operation…that should never be!!!