Trump Directs Treasury Department to Modernize Payment Systems [View all]

Source: Yahoo! News/Bloomberg

Tue, March 25, 2025 at 4:00 PM EDT


(Bloomberg) -- President Donald Trump directed the Treasury Department to modernize and centralize its payment system in an effort to root out fraud as money is transferred throughout the federal government. Trump signed two executive actions on Tuesday that ordered Treasury to use electronic payments whenever possible, as opposed to paper checks.

It also called on the US government to centralize payment processing within the Treasury Department as an additional step to reduce fraud and waste. “We’re doing this, and we have other modernization programs going on,” Trump said at the White House, adding that these are steps that should have taken place decades ago.

The pronouncements are the latest efforts from the Trump administration to seek to root out fraud in the Treasury payment system. Member of Elon Musk’s Department of Government Efficiency were granted access to the department’s payment data base at the start of Trump’s presidency, a move that has raised privacy concerns and is the subject of several ongoing legal battles.

One order directs agency heads to work with the Treasury Department to make sure that payments are going to their intended recipients.

Read more: https://www.yahoo.com/news/trump-directs-treasury-department-modernize-200045235.html