The Federal Reserve: Information on the System's Check Collection Service
GGD-90-17
Published: Dec 15, 1989. Publicly Released: Dec 15, 1989.
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Highlights
Pursuant to a congressional request, GAO reviewed the Federal Reserve System's check collection services, focusing on: (1) its banking operations compared to those in the private sector; (2) efforts to reduce its competitive advantage over private-sector banks regarding check presentment and associated fees; and (3) cost recovery activities and how proposed accounting changes might affect them.
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Topics
Accounting proceduresCheck disbursement or controlCollection proceduresComparative analysisCompetitive advantageCost accountingFederal reserve banksFeesInsured commercial banksTrade regulation