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1997-10-30 16:03:06


Electronic Funds Transfer, 1999: Blueprint for Disaster



Congress has mandated that Federal agencies send all money owed to recipients by electronic funds transfer, beginning Jan. 2, 1999. This is another massive burden to be placed on the heads of government programmers.

The Treasury is holding hearings on this. It is as if these people honestly do not see what is coming. And they expect us to believe that they will be compliant in 2000?

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In September, the Treasury Department announced its proposal to implement a new law that requires that all Federal payments, except tax refunds, be made electronically beginning January 2, 1999. This new initiative, mandated by Congress in the Omnibus Consolidated Rescissions and Appropriations Act of 1996, will significantly improve the way millions of Americans who are entitled to government payments obtain their funds.


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