{"id":1570,"date":"2015-02-28T05:23:48","date_gmt":"2015-02-28T05:23:48","guid":{"rendered":"http:\/\/www.orangesand.com\/?p=1570"},"modified":"2015-02-28T05:23:48","modified_gmt":"2015-02-28T05:23:48","slug":"death-of-the-check-part-1","status":"publish","type":"post","link":"http:\/\/www.thebains.com\/blog\/2015\/02\/28\/death-of-the-check-part-1\/","title":{"rendered":"DEATH of the CHECK &#8211;  part 1"},"content":{"rendered":"<p>The death knell for the paper check rang out on September 11, 200l.\u00a0 At that time, paper checks went by truck to central processing centers, where workers sorted and packaged them for delivery to their next destination by airplanes.\u00a0 On any day about 6 billion dollars is in the air.\u00a0 During the confusion of 9\/11 attacks, the FAA grounded all planes.\u00a0 $47 billion was stranded in air traffic.\u00a0 As a result of 9\/11, one that most people are unaware that it led to the passage of the Check 21 Act.\u00a0 The most significant change to the monetary system brought by Check 21 is its provision for banks to accept electronic images of checks in place of checks in place of the actual paper original.\u00a0 In 2012 a study published by the Federal Reserve Bank of Philadelphia notes virtually no payments made between banks by paper checks anymore.\u00a0 CONTINUED IN NEXT BLOG<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The death knell for the paper check rang out on September 11, 200l.\u00a0 At that time, paper checks went by truck to central processing centers, where workers sorted and packaged them for delivery to their next destination by airplanes.\u00a0 On any day about 6 billion dollars is in the air.\u00a0 During the confusion of 9\/11 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1570"}],"collection":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/comments?post=1570"}],"version-history":[{"count":1,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1570\/revisions"}],"predecessor-version":[{"id":1571,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/posts\/1570\/revisions\/1571"}],"wp:attachment":[{"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/media?parent=1570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/categories?post=1570"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.thebains.com\/blog\/wp-json\/wp\/v2\/tags?post=1570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}