Federal Reserve closing Oklahoma City check processing site

Tuesday, August 3rd 2004, 9:19 am
By: News On 6

BIRMINGHAM, Ala. (AP) _ The Federal Reserve says it's closing its check-processing center in Oklahoma City and eight other cities.

About 65 people will lose their jobs when the center is shut down next year.

The Fed says its closing the centers because the number of paper checks being written is declining and the closings will save $16-million a year.

Other offices being closed are in Birmingham, Alabama; Boston; Columbus, Ohio; Nashville, Tennessee; Detroit; Houston; Portland, Oregon, and Salt Lake City.

The Fed is expected to eliminate about 270 jobs overall.