The Department charged with processing most of the federal government's payments has launched an initiative to better ensure fairness and transparency of its procedures.
The U.S. Department of the Treasury (UST) on June 8 announced its new Principles for Promoting Fair and Effective Compliance. The framework, as outlined by UST Deputy Secretary Wally Adeyemo, provides a roadmap for UST bureaus and offices to use to guide compliance and enforcement efforts with the public, according to the announcement.
The UST is responsible for processing the majority of payments made by the federal government, including Social Security, Veterans Administration benefits, tax refunds and other benefit payments, as well as collecting payments and debts owed to the federal government and some state governments, the news release states.
The UST also provides services including financing for small businesses, assistance for local and Tribal governments in response to the COVID-19 pandemic, and investing in Community Development Financial Institutions and Minority Depository Institutions, according to the release. The Department enforces policies and guidelines across all of its programs and services to reduce instances of waste, fraud, and abuse; to ensure that regulated organizations and other entities meet their obligations under the law; and to help ensure that people receive the payments, refunds, and benefits for which they are eligible, the release states.
The announced framework establishes four core principles to guide UST efforts to promote fairness and transparency, including making it easier for individuals and entities willing to comply with the law to fulfill their obligations; prioritizing enforcement efforts based on the appropriate consideration of important situational factors; investing in the necessary personnel, technology, and additional resources to efficiently investigate and resolve noncompliance; and promoting fairness, trust, and accountability in program administration.
“The Treasury Department provides critical services that touch the lives of millions of American families, workers, and businesses,” Adeyemo said in the release. “Today’s announcement is part of a comprehensive strategy directed by Secretary Yellen to promote fairness and accountability in our compliance and enforcement efforts as we safeguard against waste, fraud, and abuse.”
