The U.S. Department of the Treasury hosted a meeting of the Financial Literacy and Education Commission (FLEC) to discuss federal actions to address payment fraud and implement Executive Order 14247, which requires all federal disbursements and receipts to be made electronically starting September 30, 2025.
Scott Bessent, Secretary of the Treasury and chair of FLEC, opened the session by highlighting both the anti-fraud benefits and educational opportunities created by moving away from paper checks. “We are leveraging the opportunity to provide all Americans with information on the immediate and growing fraud risks associated with paper checks, as well as the knowledge and tools to use electronic payments that are safer, faster, and more convenient,” said Secretary Bessent. He also encouraged FLEC members to update the U.S. National Strategy for Financial Literacy in light of digital changes affecting households.
Panelists from agencies including the Federal Trade Commission, Federal Reserve Board, and Independent Community Bankers of America discussed trends in payment fraud, obstacles in combating it, and current efforts across government and industry to protect consumers.
A separate discussion included representatives from the Department of Veterans Affairs, Social Security Administration, and Internal Revenue Service who spoke about their work implementing EO 14247. They described outreach efforts aimed at affected individuals as well as progress toward electronic payments. Renata Miskell from Treasury’s Office of the Fiscal Assistant Secretary noted ongoing coordination among agencies to ensure a smooth transition for those impacted.
Officials advised people still receiving federal payments via paper check to switch to direct deposit or another electronic method before September 30. Options for enrollment include contacting benefit-paying agencies directly by phone (contact details available online), enrolling through GoDirect.gov or calling Treasury’s Electronic Payment Solution Center at 800-967-6857 during business hours.
Additional information about EO 14247 and resources for signing up can be found at MyMoney.gov/FederalPayments.
During this period of change, officials cautioned against scams involving impersonation of government representatives. The public is urged to verify requests using official websites or phone numbers; further advice is available at How To Avoid Imposter Scams | FTC.
