Federal Reserve Asks: Checks' Future or Digital Dustbin?
Published Date: 12/9/2025
Notice
Summary
The Federal Reserve wants your thoughts on how it should handle check services in the future. This could mean big changes for banks, businesses, and anyone who still uses checks, possibly affecting how fast and safe payments are. If you have ideas, speak up by March 9, 2026, because these changes might impact money moves and costs down the road.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 3 costs, 1 mixed.
Reserve Banks could substantially wind down checks
The Board is considering a substantial wind-down of the Reserve Banks' check services, which could eliminate a significant amount of operating cost and affect the Reserve Banks' continued role as a provider of check services. The Board seeks public input on how such a wind-down would affect banks, businesses, and individuals who still use checks.
Federal Reserve will recover check costs via fees
The Federal Reserve says any operating costs or investments for its check services must be recovered through fees charged to depository institutions, as required by the Monetary Control Act. The Board notes it views a 10-year cost recovery expectation as appropriate for mature services and reported $104.5 million in check operating costs in 2024.
Simplifying services could remove protections
One potential strategy is significantly simplifying the Reserve Banks' check services, such as reducing deposit deadlines, limiting hours, or eliminating check adjustment services. If adjustment services were eliminated, the Reserve Banks would resolve only Reserve Bankcaused discrepancies and banks would need to resolve other errors directly with each other.
Upgrading checks keeps service but raises fees
The Board says a full upgrade of the Reserve Banks' aging check infrastructure would maintain current reliability and support future improvements, but would require substantial investment and higher costs that must be recovered through service fees charged to depository institutions. The Board lists upgrading as one of the illustrative strategies under consideration.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Related Federal Register Documents
2026-08298, Regulatory Capital Rule: Community Bank Leverage Ratio Framework
Starting July 1, 2026, community banks get a break! The minimum leverage ratio drops from 9% to 8%, making it easier for smaller banks to meet rules. Plus, banks can now stay in this easier framework longer—up to four straight quarters instead of two—helping them manage their money better without rushing.
2026-05960, Regulatory Capital Rules: Regulatory Capital and Standardized Approach for Risk-Weighted Assets
Big banks and community banks are getting new rules to better measure the risks in their loans and investments. The changes update how banks count certain assets and income when figuring out their safety net money, called regulatory capital. These updates aim to make banks safer and smarter with their money, with some rules kicking in soon and affecting how much capital banks need to hold.
2025-21625, Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework
The government wants to make it easier for small banks to stay in a special low-risk capital program by lowering the required leverage ratio from 9% to 8%. They’re also giving banks more time—up to four quarters instead of two—to fix any issues without losing their spot. Banks and bank holding companies should weigh in by January 30, 2026, as these changes could save them money and reduce red tape.
2025-21626, Regulatory Capital Rule: Modifications to the Enhanced Supplementary Leverage Ratio Standards for U.S. Global Systemically Important Bank Holding Companies and Their Subsidiary Depository Institutions; Total Loss-Absorbing Capacity and Long-Term Debt Requirements for U.S. Global Systemically Important Bank Holding Companies
Big U.S. banks that are super important to the economy are getting new rules to keep them safer and stronger. These changes tweak how much money they must keep on hand and how they handle long-term debt, helping prevent financial trouble. The new rules kick in soon and could affect how these banks manage billions in assets and debt.
2026-20668, Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
If you want to buy shares in a bank or bank holding company, you need to tell the Federal Reserve first. They check to make sure everything’s fair and safe before you can take control. If you’re interested, you have until October 23, 2026, to share your thoughts or concerns about these deals.
2026-20509, Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks: Bank Holding Companies
The Federal Reserve is updating rules about loans to bank insiders like executives and big shareholders to make things clearer and fairer. They’re giving everyone more time—until November 4, 2026—to share their thoughts on these changes. This affects banks and their top people, aiming to boost transparency and keep things running smoothly.
Previous / Next Documents
Previous: 2025-22271, Accreditation and Approval of AmSpec LLC (Plainfield, IL), as a Commercial Gauger and Laboratory
AmSpec LLC in Plainfield, IL, just got the green light to measure and test petroleum products for U.S. Customs starting May 8, 2025. This approval lasts three years, meaning they’ll keep things accurate and official until May 2028. If you’re in the petroleum business, this means smoother customs checks with trusted testing and gauging services—no extra costs announced, just reliable results!
Next: 2025-22273, Accreditation of Markan Laboratories (New York, NY) as a Commercial Laboratory
Markan Laboratories in New York is now officially approved to test certain sugar products for U.S. Customs starting March 1, 2024, and will keep this status for three years. This means importers and exporters dealing with sugar can trust their tests for customs checks. The lab’s next review will happen in March 2027, keeping things fresh and reliable without extra costs right now.