The Reg E Reader

On March 25, President Trump signed an Executive Order requiring federal agencies to stop issuing paper checks for most disbursements by September 30. Exec. Order No. 14,247, 90 Fed. Reg. 14001 (Mar. 25, 2025). To combat what the Executive Order describes as the “risks of fraud, lost payments, thefts, and inefficiencies” associated with paper checks, all executive departments and agencies will be required to transition to electronic funds transfer (EFT) methods, such as direct deposit or credit card payments. This move will bring the vast majority of federal disbursements under Reg E’s purview, as Reg E governs most EFTs initiated to or from a consumer’s personal accounts.

The US Supreme Court dealt a near-fatal blow last year to the Securities and Exchange Commission’s already weakened administrative law judge program. The expected return of Paul Atkins as SEC chairman will likely weaken the ALJ program even further, relegating the in-house judges to the fringe of any enforcement activities.