Cheques to be Better Controlled?
Cheque Clearing Processes
Office of Fair Trading Pres Release
14 November 2006
Ed Balls, Economic Secretary to the Treasury, will announce today
that, following a recommendation from the Chairman of the Office
of Fair Trading, the Chancellor of the Exchequer has agreed to
the establishment of a new governance body for payment systems,
the Payments Industry Association. In addition, the Payment
Systems Task Force, which is chaired by the OFT, has also
announced that agreement has been reached on a number of
improvements to the cheque clearing process that will benefit
both consumers and businesses.