The Federal Reserve announced today that it has hired an outside consultant to study trends in checking and electronic payments.
The three-part study, which will be conducted by McKinsey & Company, is aimed at estimating the annual number, dollar value and composition of retail noncash payments in the United States. The Fed said the studies will provide aggregate estimates and current trends in the use of noncash payment instruments.
The Fed conducted similar studies in 2001, 2004 and 2007.
Recommended For You
Preliminary results are expected later this year.
© 2025 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.
