On December 9, the Fed published an RFI in the Federal Register requesting public input on the future of the Fed’s check services. In its notice, the Fed will assess possible strategies for the future of checks, acknowledging that check usage in the U.S. has steadily declined over recent decades even as noncash payments increased. Strategies proposed by the Fed range from maintaining current operations without new investments, to simplifying and winding down check services to reduce costs, to investing heavily to upgrade aging infrastructure and improve reliability. The Fed stated that any investment would need to be recovered through bank fees, as required by DIDMCA.

The Fed welcomed input on 10 items it will consider regarding check services, emphasizing the continued use of checks as opposed to check fraud (which was addressed in a separate RFI). Respondents are encouraged to weigh in on the importance of the Fed’s check services, the impact of potential changes, willingness to incur additional costs, and the challenges of transitioning to alternative payment methods. The Fed indicated that public input would inform its analysis of long-term strategies, with comments due by March 9, 2026.