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Banking in the 21st century

Author

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  • Anthony M. Santomero

Abstract

U.S. consumers are catching up with their counterparts in the rest of the world in their use of electronic payment methods, but paper checks remain a popular way to make payments here. How is the Federal Reserve supporting an orderly evolution of the payment system as consumers shift away from paper? One way is the Fed's advocacy of legislation such as Check 21. In \\"Banking in the 21st Century,\\" President Anthony Santomero describes some of the implications of this new legislation for both the Federal Reserve System and depository institutions

Suggested Citation

  • Anthony M. Santomero, 2004. "Banking in the 21st century," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 1-4.
    • Handle: RePEc:fip:fedpbr:y:2004:i:q3:p:1-4
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