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Monday, October 25, 2010

Cleveland Fed Last to Process Checks

Posted By on Mon, Oct 25, 2010 at 4:03 PM

We use ones with unicorns and rainbows on them.
  • We use ones with unicorns and rainbows on them.

It's random fun fact time around the office. Today's random nugget that we just learned, courtesy of an article on the slow death of paper checks:


The Fed says it has shut down all but one of its 45 paper check processing offices nationwide since 2003 because of the drop in demand. Cleveland is the only office still open.

Interesting.

The article also says that the number of checks being written is down, but the average dollar amount per check is up as consumers use them for rent payments and hookers and blow. Well, that last part might just be us.

(Via NPR)

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