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S5 Ep6: BNC: The Debit Interchange Cap is Being Lowered Because … Reasons, Check Fraud, and the Implications of 1033

Fintech Takes

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The Persistence and Vulnerability of Check Payments

This chapter explores the ongoing use of checks in financial transactions, with a focus on the prevalence of check fraud and its impact on banks. The speakers express concern over the frequency of check fraud and question why banks haven't taken more measures to transition people away from using checks. They also discuss the potential of account-to-account payments as a solution to reduce check volume and prevent fraud.

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