To the Editor:

In response to your April 10 article, "ACH Transaction Volumes Grow, But Revenues Don't Keep the Pace," [page 1] First Union and the financial services industry as a whole have experienced significant consolidation over the past 10 years through increased merger and acquisition activity. As a result, rankings that do not take this consolidation into account do not provide an apples-to-apples - and therefore accurate - comparison of numbers.

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