In the wake of this week's significant executive order directing the Treasury to eliminate the use of paper checks for federal government disbursements (and payments to the U.S. government), ABA's Steve Kenneally joins the podcast for a conversation on what's next for the payments system. In this episode — sponsored by nCino — Kenneally discusses:
- The role of Treasury checks in check fraud schemes.
- The order's aggressive timeline, with an implementation date of Sept. 30, 2025.
- The significant challenges faced by different federal agencies in phasing out paper payments.
- The potential scope of exceptions to the order.
- How banks can help the small remaining user base of Treasury checks switch into bank accounts, including Bank On-certified accounts.
