Think you’re having money problems? Turns out the Fed’s struggling with cash, too.
The Federal Reserve’s upgraded design of the $100 note, unveiled in 2010 with new security features, is already two years past its release date, and the latest glitch was at the Washington printing plant, according to The New Yorker.
The plant produced “clearly unacceptable” notes, Larry Felix, director of the Bureau of Engraving and Printing, told employees in a July memo. The notes didn’t get his approval because there was too much ink on the paper, so the artwork wasn’t defined by crisp lines.
The security features on the new bills include a bell in the inkwell and a 3-D security ribbon. The notes will also have a color-shifting 100 and raised printing, among other changes.
The Federal Reserve is now returning over $30 million in $100 notes and demanding its money back, saying it’s not going to accept any $100 notes made in the D.C. plant.
Read more at POLITICO.
{Matzav.com Newscenter}
