The Federal Reserve plans to make it more convenient for banks to process checks through clearing houses, Fed Governor Edward W. Kelley Jr. said Tuesday.

"I expect that there will be good progress to report on these issues relatively early next year," Mr. Kelley said in a wide-ranging speech to the National Automated Clearing House Association.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.