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An Examination of Concerns Expressed About the Federal Reserve's Pricing of Check Clearing Activities

GGD-85-9 Published: Jan 14, 1985. Publicly Released: Jan 14, 1985.
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Highlights

Pursuant to a congressional request, GAO examined issues pertaining to the Federal Reserve System's check-clearing operations, focusing on: (1) concerns raised by the banking industry that the Federal Reserve enjoys unfair competitive advantages over the commercial check-clearing industry; and (2) progress made by the Federal Reserve in eliminating its subsidy of check-clearing operations.

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Topics

Banking lawBanking regulationCheck disbursement or controlCompetitionCost controlFederal reserve banksFeesLending institutionsMonetary policiesFederal reserve system