Federal Reserve to Scale Back Check Processing Operation

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]

2 Responses to “Federal Reserve to Scale Back Check Processing Operation”

  1. Anonymous

    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.

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