|
ABA Routing Transit Number
In the United States, an ABA routing transit number (ABA RTN) is a nine-digit code printed on the bottom of checks to identify the financial institution on which it was drawn. The American Bankers Association (ABA) developed the system in 1910 to facilitate the sorting, bundling, and delivering of paper checks to the drawer's (check writer's) bank for debit to the drawer's account. Newer electronic payment methods continue to rely on ABA RTNs to identify the paying bank or other financial institution. The Federal Reserve Bank uses ABA RTNs in processing Fedwire funds transfers. The ACH Network also uses ABA RTNs in processing direct deposits, bill payments, and other automated money transfers. Management Since 1911, the American Bankers Association has partnered with a series of registrars, currently Accuity, to manage the ABA routing number system. Accuity is the Official Routing Number Registrar and is responsible for assigning ABA RTNs and managing the ABA RTN system. Accu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five major unincorporated territories, nine United States Minor Outlying Islands, Minor Outlying Islands, and 326 Indian reservations. The United States is also in Compact of Free Association, free association with three Oceania, Pacific Island Sovereign state, sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Palau, Republic of Palau. It is the world's List of countries and dependencies by area, third-largest country by both land and total area. It shares land borders Canada–United States border, with Canada to its north and Mexico–United States border, with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the List of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rand McNally
Rand McNally is an American technology and publishing company that provides mapping, software and hardware for consumer electronics, commercial transportation and education markets. The company is headquartered in Chicago, with a distribution center in Richmond, Kentucky. History Early history In 1856, William H. Rand opened a printing shop in Chicago and two years later hired a newly arrived Irish immigrant, Andrew McNally, to work in his shop. The shop did big business with the forerunner of the ''Chicago Tribune'', and in 1859 Rand and McNally were hired to run the ''Tribune''s entire printing operation. In 1868, the two men, along with Rand's nephew George Amos Poole, established Rand McNally & Co. and bought the Tribune's printing business. The company initially focused on printing tickets and timetables for Chicago's booming railroad industry, and the following year supplemented that business by publishing complete railroad guides. In 1870, the company expanded into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Bank Of Cleveland
The Federal Reserve Bank of Cleveland is the Cleveland-based headquarters of the U.S. Federal Reserve System's Fourth District. The district is composed of Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It has branch offices in Cincinnati and Pittsburgh. The check processing center in Columbus, Ohio, was closed in 2005. The chief executive officer and president is Loretta Mester. The bank building is a 13-story 203 foot high-rise, located at Superior Avenue and East 6th Street in downtown Cleveland was designed by the Cleveland firm of Walker and Weeks and completed in 1923. Its exterior architecture emulates an Italian Renaissance palazzo, and is clad in Georgia pink marble. An extension to the building designed by HOK was completed in 1998, providing new facilities for check processing and cash handling. The building is listed on the National Register of Historic Places. The building's entrances feature allegorical sculptures ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Bank Of Philadelphia
The Federal Reserve Bank of Philadelphia — also known as the Philadelphia Fed or the Philly Fed — headquartered at 10 Independence Mall in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern and central Pennsylvania, the nine southern counties of New Jersey, and Delaware. Its geographical territory is by far the smallest in the system, and its population base is the second-smallest (next to the Federal Reserve Bank of Minneapolis). The current President of the Philadelphia Fed is Patrick T. Harker. The Philadelphia Fed conducts research on both the national and regional economy. Its regional manufacturing index is the second of the regional manufacturing reports released every month (the New York Fed's Empire State Index is now released earlier), but it is still very important to the financial community as a proxy for nationwide manufacturing conditions. The Federal Reserve Bank of Philadelphia publishes a quarterl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Bank Of Boston
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the Federal Reserve Bank, First District of the Federal Reserve, which covers New England: Maine, Massachusetts, New Hampshire, Rhode Island, Vermont and all of Connecticut except Fairfield County, Connecticut, Fairfield County. The code of the Bank is A1, meaning that dollar bills from this Bank will have the letter A on them. The Boston Fed describes its mission as promoting "growth and financial stability in New England and the nation". The Boston Fed also includes the New England Public Policy Center. Current Federal Reserve Bank of Boston president is Susan M. Collins (economist), Susan Collins, who is the first Black woman and the first woman of color to lead any of the 12 regional Federal bank branches. It has been headquartered since 1977 in the distinctive tall, 32-story Federal Reserve Bank Building (Boston), Federal Reserve Bank Building at 600 Atlantic Avenue (Boston), Atlantic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Traveler's Check
A traveller's cheque is a medium of exchange that can be used in place of hard currency. They can be denominated in one of a number of major world currencies and are preprinted, fixed-amount cheques designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege. They were generally used by people on vacation in foreign countries instead of cash, as many businesses used to accept traveller's cheques as currency. The incentive for merchants and other parties to accept them lies in the fact that as long as the original signature (which the buyer is supposed to place on the cheque in ink as soon as they receive the cheque) and the signature made at the time the cheque is used are the same, the cheque's issuer will unconditionally guarantee payment of the face amount even if the cheque was fraudulently issued, stolen, or lost. This means that a traveller's cheque can never 'bounce' unless the issuer g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Union
A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including deposit accounts, provision of credit, and other financial services. In several African countries, credit unions are commonly referred to as SACCOs (Savings and Credit Co-Operative Societies). Worldwide, credit union systems vary significantly in their total assets and average institution asset size, ranging from volunteer operations with a handful of members to institutions with hundreds of thousands of members and assets worth billions of US dollars. In 2018, the number of members in credit unions worldwide was 274 million, with nearly 40 million members having been added since 2016. Leading up to the financial crisis of 2007–2008, commercial banks engaged in approximately five times more subprime lending relative to credit unions and were two and a half ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooperative Banking
Cooperative banking is retail and commercial banking organized on a cooperative basis. Cooperative banking institutions take deposits and lend money in most parts of the world. Cooperative banking, as discussed here, includes retail banking carried out by credit unions, mutual savings banks, building societies and cooperatives, as well as commercial banking services provided by mutual organizations (such as cooperative federations) to cooperative businesses. A 2013 report by ILO concluded that cooperative banks outperformed their competitors during the financial crisis of 2007–2008. The cooperative banking sector had 20% market share of the European banking sector, but accounted for only 7% of all the write-downs and losses between the third quarter of 2007 and first quarter of 2011. Cooperative banks were also over-represented in lending to small and medium-sized businesses in all of the 10 countries included in the report. Credit unions in the US had five times lower fai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Bank Of New York
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Located at 33 Liberty Street in Lower Manhattan, it is by far the largest (by assets), the most active (by volume), and the most influential of the Reserve Banks. The Federal Reserve Bank of New York is solely responsible for implementing monetary policy on behalf of the Federal Open Market Committee and acts as the market agent of the entire Federal Reserve System (as it houses the Open Market Trading Desk and manages System Open Market Account). It is also the sole fiscal agent of the U.S. Department of the Treasury, the bearer of the Treasury's General Account, and the custodian of the world's largest gold storage reserve. Aside from these distin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Government Of The United States
The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic located primarily in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where most of the federal government is based), five major self-governing territories and several island possessions. The federal government, sometimes simply referred to as Washington, is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively. The powers and duties of these branches are further defined by acts of Congress, including the creation of executive departments and courts inferior to the Supreme Court. Naming The full name of the republic is "United States of America". No other name appears in the Constitution, and th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MICR
Magnetic ink character recognition code, known in short as MICR code, is a character recognition technology used mainly by the banking industry to streamline the processing and clearance of cheques and other documents. MICR encoding, called the ''MICR line'', is at the bottom of cheques and other vouchers and typically includes the document-type indicator, bank code, bank account number, cheque number, cheque amount (usually added after a cheque is presented for payment) and a control indicator. The format for the bank code and bank account number is country-specific. The technology allows MICR readers to scan and read the information directly into a data-collection device. Unlike barcode and similar technologies, MICR characters can be read easily by humans. MICR encoded documents can be processed much faster and more accurately than conventional OCR encoded documents. Pre-Unicode standard representation The ISO standard ISO 2033:1983, and the corresponding Japanese Indus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
