Public Debt Bureau January 4, 2010 – Federal Register Recent Federal Regulation Documents

Endorsement and Payment of Checks Drawn on the United States Treasury
Document Number: E9-31166
Type: Proposed Rule
Date: 2010-01-04
Agency: Fiscal Service, Public Debt Bureau, Department of Treasury, Department of the Treasury
The Department of the Treasury, Financial Management Service (FMS), is proposing to amend its regulation governing the endorsement and payment of checks drawn on the United States Treasury, to provide that Treasury may direct Federal Reserve Banks to debit a financial institution's account at the financial institution's servicing Federal Reserve Bank for all check reclamations that the financial institution has not protested. Financial institutions will continue to have the right to file a protest with FMS if they believe a proposed reclamation is in error.
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