Readout from the Financial Literacy and Education Commission September 2025 Public Meeting on Payment Fraud

WASHINGTON — Yesterday, the U.S. Department of the Treasury hosted a convening of the Financial Literacy and Education Commission (FLEC) focused on federal efforts to combat payment fraud and implement Executive Order 14247, Modernizing Payments To and From America’s Bank Account, which mandates the transition to the use of electronic payments for federal disbursements and receipts beginning on September 30, 2025. As chair of the FLEC, U.S. Secretary of the Treasury Scott Bessent delivered opening remarks affirming his commitment to promoting financial literacy. He noted that the federal shift to electronic payments is not only a safeguard against fraud, but also a chance to strengthen Americans’ financial skills. “We are leveraging the opportunity to provide all Americans with information on the immediate and growing fraud risks associated with paper checks, as well as the knowledge and tools to use electronic payments that are safer, faster, and more convenient,” said Secretary Bessent.