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Boston Clearing House Merged into The Clearing House.

Publication: PR Newswire
Publication Date: 30-AUG-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Latest Consolidation Further Streamlines Nation's Check Processing Infrastructure

NEW YORK, Aug. 30 /PRNewswire/ -- The Clearing House Payments Company L.L.C. announced today that the Boston Clearing House (BCH), the oldest independent check clearing house in the U.S., has become part of the company's SVPCO-Check Services business in a further consolidation of the nation's check processing infrastructure.

The Clearing House, which has been providing settlement services to BCH institutions under a processing contract, will absorb the clearing of more than 13 million checks a month with a daily value of $850 million for BCH banks, thrifts...

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