Treasury Department Letter to Members of Congress Regarding Payment Systems

I am writing in response to your letter … regarding payment systems operated by the U.S. Department of the Treasury.The Treasury Department’s Bureau of the Fiscal Service (Fiscal Service) operates vital payment systems for the federal government, and those systems should promote financial integrity and operational efficiency. The Fiscal Service disburses nearly 90 percent of all federal payments, in over 1.2 billion transactions per year. Treasury is committed to ensuring that the Fiscal Service is functioning in a manner consistent with the highest levels of efficiency and in accordance with the expectations of taxpayers to prevent waste, fraud and abuse. Treasury has no higher obligation than managing the government’s finances on behalf of the American people, and its payments system is critical to that process. In keeping with that mission, Treasury is committed to safeguarding the integrity and security of the system, given the implications of any compromise or disruption to the U.S. economy.