[Federal Register Volume 64, Number 94 (Monday, May 17, 1999)] [Notices] [Pages 26814-26815] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 99-12404] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Fiscal Service Electronic Transfer Account AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice of public meeting. ----------------------------------------------------------------------- SUMMARY: On November 23, 1998, the Department of the Treasury (Treasury) published for comment in the Federal Register a notice setting forth proposed terms, conditions, and attributes of the Electronic Transfer Account (``ETASM''), a Treasury- designated account to which Federal payments will be made electronically, As a next step in the process, Treasury is conducting an informational briefing, open to the public, to present an overview of the Financial Agency Agreement (``FAA''). The FAA delineates the terms and conditions under which a financial institution will operate the ETASM and must be entered into with Treasury before such services can be provided. DATES: May 26, 1999. 1:30 p.m. to 3:30 p.m. ADDRESSES: International Trade Center, Ronald Reagan Building, Polaris Room. 1300 Pennsylvania Avenue, N.W., Washington, D.C. 20004. Metro stop: Federal Triangle. FOR FURTHER INFORMATION CONTACT: Persons planning to attend this meeting are requested to notify Treasury of their intent by completing an Internet webform at http://www.fms.treas.gov/eta/index.html, by sending an Internet e-mail to Martha.Thomas-M[email protected] or Matthew.H[email protected], or by calling Martha Thomas-Mitchell at (202) 874-6757 or Matt Helfrich at (202) 874-6754 by May 24, 1999. Persons notifying Treasury by Internet e-mail should include their name and telephone number. Organizations should provide the name of the organization and the name(s), title(s), and telephone number(s) of the person(s) attending on behalf of the organization. SUPPLEMENTARY INFORMATION: The Debt Collection Improvement Act of 1996 (the ``Act'') requires, subject to the authority of the Secretary of Treasury to grant waivers, that all Federal payments (other than payments under the Internal Revenue Code of 1986) made after January 1, 1999, must be made by electronic funds transfer (``EFT''). The Treasury regulation implementing the requirements of the Act, 31 CFR Part 208, was published on September 25, 1998, and provides, in part, that any individual who receives a Federal benefit, wage, salary, or [[Page 26815]] retirement payment is eligible to open an account called an ETASM at any Federally-insured financial institution that offers the ETASM. 63 FR 51490. The ETASM is being developed to maximize opportunities for individuals receiving Federal payments electronically to have access to an account at a reasonable cost and with the same consumer protections available to other account holders at the same financial institution. On November 23, 1998, Treasury published a Notice of Proposed ETASM Features in the Federal Register for a 45-day comment period. 63 FR 64820. The Notice proposed specific ETASM attributes. Treasury also sought comment on whether financial institutions should be permitted to offer three additional features, at the option of the financial institution and at additional cost, if any, to the recipient. Treasury received, and has reviewed, a total of 198 comment letters from financial institutions, consumer organizations, Federal agencies, and others. Treasury is conducting this briefing to present an overview of the ETASM FAA. Those persons unable to attend the briefing in person will be able to obtain a copy of the FAA and any other handouts on the EFT website at http://www.fms.treas.gov/eft/eta. The FAA and any other handouts will be posted on the website shortly following the meeting. Treasury will subsequently publish a final notice in the Federal Register that describes the prescribed features of the ETASM and includes the ETASM FAA. Dated: May 12, 1999. Richard L. Gregg, Commissioner. [FR Doc. 99-12404 Filed 5-14-99; 8:45 am] BILLING CODE 4810-35-M