Universal access, cost recovery, and payment services

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Sujit Chakravorti; Jeffery W. Gunther; Robert R. Moore;
  • Subject: Payment systems ; Check collection systems

We suggest a subtle, yet far- reaching, tension in the objectives specified by the Monetary Control Act of 1980 (MCA) for the Federal Reserve’s role in providing retail payment services, such as check processing. Specifically, we argue that the requirement of an overall... View more
  • References (6)

    Committee on the Federal Reserve in the Payments Mechanism (1997), Summary of Input from Payments System Forums, Washington, D.C.: Board of Governors of the Federal Reserve System, September.

    Eckel, Catherine and Charles A. Holt (1989), “Strategic Voting in Agenda-Controlled Committee Experiments,” American Economic Review 79, September, 763-73.

    Federal Register, Proposed Fee Schedules and Pricing Principles, 45 FR 58689, September 4, 1980.

    _______, Adoption of Fee Schedules and Pricing Principles for Federal Reserve Bank Services, 46 FR 1338, January 6, 1981.

    _______, Approval of a Private Sector Adjustment Factor and Fee Schedules for Federal Reserve Bank Priced Services for 1991, 55 FR 46720, November 6, 1990.

    Federal Reserve Bulletin, Announcements, Adoption of Fee Schedules, Transportation Services, November 1981, p. 854.

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