The Federal Reserve’s Reduced Role in Retail Payments: Implications for Efficiency and Risk

by PaymentsJournal 0

The Federal Reserve’s Reduced Role in Retail Payments:Implications for Efficiency and Risk By Richard J. SullivanT he payments system in the United States has undergone fundamental changes in the last decade. The use of paper checks has declined rapidly, replaced by the automated clearinghouse (ACH) and card payments.

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