WASHINGTON - The Federal Reserve Board has agreed to modify deposit deadlines and pricing practices at its automated clearing house and is seeking industry comment as to what changes are necessary.

At issue is the private sector's long-running claim that the Fed's pricing practices and deposit deadlines create unfair competition. For years the three private-sector ACH operators - the New York Clearing House, the American Clearing House Association, and VisaNet ACH Services, a unit of Visa U.S.A. - have demanded the Fed adjust its pricing in a way that gives financial institution customers credit for work done by the private operators.

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