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Check Printers Fear Online Banking

The nation's largest check printers are reevaluating the way they do business because they predict that online banking is going to take off in the near future.

The nation's largest check printers are reevaluating the way they do business because they predict that online banking is going to take off in the near future.

About 60 billion checks are written annually in the United States and, according to check printer Deluxe Corporation, the numbers will decline in the next century. Company officials say they are in the process of closing plants and cutting staff to begin focusing on other ventures.

Some of the banks that have already gone online in an effort to attract Internet banking customers include Bank of America, Citibank, First Interstate, and Wells Fargo.