Regulations Governing Payments by Banks and Other Financial Institutions of United States Savings Bonds and United States Savings Notes (Freedom Shares)

Summary

The US Department of the Treasury has published a final rule updating procedures for collecting debts owed by paying agents of US Savings Bonds and Savings Notes. The new procedures aim to expedite the process of crediting accounts designated by paying agents for receiving savings bond transaction settlements, while also making it easier for the Public Debt to collect monies from agents who fail to reimburse in a timely manner.