DATE: Friday, September 12, 1997 TAG: 9709120584 SECTION: FRONT PAGE: A3 EDITION: FINAL SOURCE: ASSOCIATED PRESS DATELINE: WASHINGTON LENGTH: 32 lines
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HIGHLIGHTS
A look at proposed Treasury Department rules.
What's covered: All federal payments, except tax refunds.
Who's affected: Social Security recipients; other federal
beneficiaries, such as veterans, federal employees; and businesses
contracting with the government.
Waivers: The Treasury Department proposes waivers for anyone,
except a business, who's been receiving checks since before July 26,
1996. Recipients can claim a waiver due to physical disability or
``geographical barrier,'' meaning they live too far from or would
have difficulty getting to a bank. People without bank accounts
could also claim a waiver based on financial hardship.
Electronic transfer accounts: For people without accounts, the
government is developing ``electronic transfer accounts'' through
banks, savings institutions and credit unions. They'd probably
charge a monthly fee of a few dollars and permit ATM withdrawals.
Deposits of other checks might be permitted, but not check-writing
privileges.
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