Home > Executive Order

AI Summary: This is a policy document - specifically an Executive Order establishing a mandate to modernize and digitize federal payments. This regulation mandates the transition of all federal financial transactions from paper-based to electronic methods by September 30, 2025. The order requires all federal agencies to shift to electronic funds transfers (EFT) for disbursements and receipts, including direct deposits, prepaid cards, digital wallets, and other electronic payment systems. While mandating this broad digital transition, the order allows limited exceptions for individuals without banking access, emergency payments, national security situations, and other circumstances determined by the Treasury Secretary. The regulation aims to reduce costs, increase efficiency, and decrease risks associated with paper-based payments, such as fraud and theft. The Treasury Secretary is tasked with developing a public awareness campaign, supporting agencies' transitions, protecting sensitive information, and working with financial institutions to address access issues for unbanked populations. Agencies must submit compliance plans within 90 days, and the Treasury Secretary must provide an implementation report within 180 days. Importantly, the order explicitly states it is not establishing a Central Bank Digital Currency and does not create enforceable legal rights.