Overview
- The Federal Reserve Board issued a preliminary request for information on potential strategic changes to Reserve Bank check operations.
- The RFI outlines options that include foregoing new investments with reduced reliability, investing to maintain or improve service levels, or significantly reducing or winding down services.
- Public comments will be accepted for 90 days after publication in the Federal Register, with further comment to be sought before any major long‑run changes.
- Vice Chair for Supervision Michelle Bowman dissented, saying the approach appears to favor discontinuation even though checks remain an important payment method by volume and value.
- Separately, the Fed set 2026 pricing for payment services and projects recovering 108% of actual and imputed costs effective January 1.