Bank Groups Suggest Public Awareness Campaign to Support US Treasury’s Phaseout of Paper Checks

AICPA Makes Recommendations as Treasury and IRS Transition to Electronic Payment and Disbursement System

The adoption of an electronic system for federal disbursements and receipts would increase efficiency, reduce costs and significantly diminish the occurrence of lost or stolen checks.

Bank groups encourage Treasury switch to digital payments

Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.

Payments Industry Support Builds to Eliminate the Federal Government’s Reliance on Paper Checks - Digital Transactions

Organizations representing the payments industry are coming out in support of the federal government’s move to eliminate paper checks for disbursements. Nacha, the governing body that oversees the ACH network, The Bank Policy Institute, The Clearing House Association, and the Consumer Bankers Association, have submitted comments to the Treasury Department in support of Executive Order 14247, Modernizing Payments To and From America’s Bank Accoun…

Urgent Call for Quick Transition from Paper Cheques as US Banks Respond to Treasury Phase-Out | Fintech InShorts: Latest fintech news, analysis by experts

Banking Groups Emphasize the Need for Efficient Digital Solutions in Light of Changing Payment Landscapes Highlights: US banking groups are advocating for a rapid shift from paper cheques to digital payment methods. The US Treasury’s announcement to phase out paper cheques has heightened urgency for transitioning payment systems. Banks are emphasizing the importance of ensuring a smooth transition to avoid disruptions in financial transactions.…

Bank Groups Suggest Public Awareness Campaign to Support US Treasury’s Phaseout of Paper Checks

Eliminating paper checks from government disbursements will reduce fraud and speed up the delivery of payments to recipients, three bank groups told the Treasury Department Monday (June 30). [contact-form-7] The Bank Policy Institute, The Clearing House Association and the Consumer Bankers Association said this in joint comments submitted in response to the Treasury Department’s request for information related to the implementation of P…