Executive Order

Home > Executive Order


Protecting America's Bank Account Against Fraud, Waste, and Abuse

AI Summary: This is a policy document (an Executive Order) addressing financial management and fraud prevention in the federal government. This regulation establishes new requirements for federal financial transactions and payment verification, with the goal of reducing fraud and improving financial oversight. The order requires the Department of the Treasury to enhance its payment verification processes, mandates agencies to provide more detailed financial information, and seeks to consolidate and standardize federal financial systems. Key provisions include requiring agencies to review their record systems to allow data sharing for fraud prevention, establishing pre-certification criteria for payments (such as verifying fund availability, payee information, and account validity), and directing agencies to consolidate their core financial systems. The order also aims to reduce Non-Treasury Disbursing Offices (NTDOs) by centralizing more payment functions under the Treasury Department. Agencies must submit compliance plans within 90 days, detailing how they will transition disbursing authority, update systems, and verify payment information. The Secretary of the Treasury is required to assess and potentially revoke existing disbursing delegations and develop a plan to centralize payments previously handled by NTDOs. The overall intent is to increase transparency, accountability, and efficiency in federal financial operations while protecting against fraud and improper payments.