The Federal Reserve is studying the decline in check usage and volume, announcing plans to phase out paper checks by the end of 2027 and eliminate them entirely by 2030.
6 reports, 1 independent
Updated Sep 8
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- Reports
- 6
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- 2
- Repetition
- 83%
New informationRepeats or wire copies
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What happened
The Federal Reserve is studying the decline in check usage and volume, announcing plans to phase out paper checks by the end of 2027 and eliminate them entirely by 2030.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- The Federal Reserve is facing legislative review regarding currency production costs and declining cash usage, involving the Senate and nickel coins.Sub-event
The Fed is phasing out paper checks, starting with usage decline studies, aiming for elimination by 2030.1 source
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The entities involved
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Federal Reserve Bank
regional bank of the U.S. Federal Reserve System
Coverage
Newest first; wire copies grouped- theconversation.comShould paper checks be abolished like the penny?