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UK Payments Council: Payments Council response to the Treasury Select Committee's report on the future of cheques

( August 24, 2011, 09:56 GMT | Official Statement) -- MLex Summary: The Payments Council - a strategy-setting organisation set up by financial institutions  - has responded to the Treasury Select Committee’s calls (read it here) for them to not have the power to unilaterally abolish cheques and for the body to be incorporated into a formal regulatory framework. The acting chief executive has welcomed the committee's decision on retaining central cheque clearing, said they don't believe increased regulation is required, claimed they will take the recommendations into account as part of a governance review and added that payment methods should be driven by customer demand.Payments Council response to the Treasury Select Committee's report on the future of cheques...

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