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| *Loan,banking and credit>>>bank checks |
I am applying for a position at a bank and they said they were conducting a "Federal Reserve Check". |
What is a Federal Reserve Check? You are confusing the banking term Federal Reserve and a Federal Criminal Background check. Background checks can consist of many things, but in your case it'll be probably pulling your credit report, your criminal background, probably your checking account history (that is separate from the credit check) and verifying whatever you wrote and signed off on your application. Any financial institution is going to want squeeky clean employees without credit problems themselves because you will be dealing with cash and lots of it! You should have asked, you probably would get the job!! They really like smart people!!!! LOL . What is the Federal Reserve System? The Federal Reserve System, also known as "The Fed," is the central bank of the United States. In its role as a central bank, the Fed is a bank for other banks and a bank for the federal government. It was created to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded. The Federal Reserve System is a network of twelve Federal Reserve Banks and a number of branches under the general oversight of the Board of Governors. The Reserve Banks are the operating arms of the central bank. |
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