On Tuesday, President Trump signed an executive order to modernize Treasury Department payment systems.
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NewsTranscript
00:00Next, sir, we have an executive order for your attention relating, actually, to government
00:05payments.
00:06Historically, checks issued by the Treasury are, I believe, 14 times more likely to become
00:12the subject of fraud than electronic transfer payments.
00:16This is an executive order that's going to push the Treasury Department to modernize
00:20its payment system to ensure that, where possible, they're using electronic methods of payment
00:25as opposed to paper checks in order to reduce waste, fraud, and abuse in the government,
00:30which is obviously an endeavor that we've been pursuing in numerous aspects of government
00:35under your leadership.
00:37It's basically modernization of equipment and methods.
00:41And it's something that, really, I think he's going to be a great Secretary of the Treasury
00:46wanted, Scott, and so we're doing this, and we have other modernization programs going
00:53on.
00:54I don't know anybody else, whoever's next, whoever that may be, do it, but it's something
00:58that should have been done 25, 30 years ago.
01:07Okay.
01:20Along similar lines, sir, this is an executive order.
01:23We're calling it Protecting America's Bank Account.
01:25The basic idea here is that, instead of having lots of different departments and agencies
01:29and offices issuing payment, often without justification, often without any provided
01:34rationale, we're going to be centraling payment processes, where possible, in the Department
01:39of the Treasury and ensuring that measures are taken in Treasury against waste, fraud,
01:43and abuse to ensure that money that's leaving the public treasury is as protected as it
01:47possibly can be.
01:49All right.
01:51Good.
02:02Many of these things should have taken place decades ago, or longer.