Federal Government Participation in the Automated Clearing House
other · Fiscal Service · Rule · Published 2010-12-22 · Effective 2011-01-21 · 75 FR 80335
Document
Document number
2010-32114
Federal Register citation
75 FR 80335
CFR reference
31 CFR 210
Type
Rule
Action
Interim final rule.
Category
other
Sub-agency
Fiscal Service
Publication date
2010-12-22
Effective date
2011-01-21
Abstract
The Department of the Treasury, Financial Management Service (FMS) is amending its regulation governing the use of the Automated Clearing House (ACH) system by Federal agencies to permit the delivery of Federal payments to prepaid debit cards that meet certain criteria. To be eligible to receive Federal payments, a card must provide the cardholder with pass-through deposit or share insurance and the card account must not have an attached line of credit or loan feature that triggers automatic repayment from the card account. In addition, the issuer of the card account must provide the cardholder with all of the consumer protections that apply to a payroll card under the Federal Reserve Board's Regulation E.