“To improve greater savings in the check system, we’re trying to encourage check truncation, where the check is actually taken out of the process as early as possible so it does not flow through and incur all the multiple handlings and all the transportation and other costs associated with moving a check through, point to point, from the bank of first deposit to the paying bank.” -Federal Reserve Assistant Director of the Division of Reserve Bank Operations and Payment Systems Jack K. Walton II on advantages to credit unions under check truncation legislation. “Sure, some of the other candidates have a lot of celebrity. But this year and this race has drawn so much media attention that it’s going to be easier for even the little guys to get our points across.” -Calvin Louie, CPA, chair of the $8 million Northeast Community Federal Credit Union’s Credit Committee and candidate for governor of California, assessing the media environment of his upcoming race. “It’s a window of opportunity that we have seized upon.” -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.