The Check Clearing for the 21st Century Act (the Check 21 Act) was designed to facilitate technological innovation by accelerating the transition to electronic check processing. Yet, in adopting Check 21-related processing, banks must also appropriately identify and mitigate potential risks...

As the dominant provider of payments services, the efficiency with which the Federal Reserve provides such services in an important public policy issue. This paper examines the productivity of Federal Reserve check-processing offices during 1980-1999 using non-parametric estimation methods and...

Check 21 is changing how the country’s checks are processed. The Boston Fed’s Carol Lewis answers questions about how this new law affects consumers.

Assessing the differing impacts of a new computer technology on skills and pay in two departments of a large bank.