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Federal Reserve to Scale Back Check Processing Operation

Written by Nickel - 2 Comments

Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.

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.


Published on July 11th, 2007 - 2 Comments
Filed under: Banking

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Comments (scroll down to add your own):

  1. 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.

    Comment by Anonymous — Jul 11th 2007 @ 12:15 pm
  2. the Fed are a bunch of citizen robbing skanks that run an illegal operation…that should never be!!!

    Comment by Anonymous — Jul 20th 2007 @ 10:51 pm

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