Fed Shuts More Check ProcessingPlants
WASHINGTON - (06/01/06) -- The Federal Reserve, which has beenreducing its check processing, announced Wednesday it is closingdown three more of its check processing facilities. Since 2003 theFed has reduced the number of its check processing offices from 45to 18. The latest move means the Fed will discontinue checkprocessing in San Francisco, Kansas City and Helena, Mont.Processing operations in San Francisco will be moved to LosAngeles; in Kansas City to St. Louis; and in Helena to Denver. Themove will mean 280 people at those three facilities will lose theirjobs. Check volumes in the U.S. has declined from 50 billion in1995 to 37 billion in 2003.