Program Implementation Guide for ETASM Providers
This document highlights important information needed by providers as they begin offering ETAs. This guide should be used as a reference document that describes a provider's responsibilities related to the ETA Program and to its ETA customers. The guide also contains provider instructions for obtaining compensation of the one-time payment (set-up fee) for each ETA established.
On September 25, 1998, Treasury issued 31
CFR Part 208, which provides, in part, that any individual who receives
a Federal benefit, wage, salary, or retirement payment shall be eligible
to open an account called an ETA at any federally insured financial institution
that chooses to offer ETAs. On November 23, 1998, Treasury published for
comment in the Federal Register a notice setting forth proposed terms,
conditions, and attributes of the ETA. Based on the comments received,
Treasury has developed a listing of required attributes and optional features
for the ETA, which are the subject of this notice. An appendix to this notice is the Financial Agency Agreement
that Treasury enters with each financial institution that elects
to offer ETAs.
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