InfoSight Highlight: New information on Representative Payees
Posted: Feb 22, 2019 | Author:
The Social Security Administration will be conducting background checks on new and existing representative payees. Individuals with certain felonies under State and Federal law will not be permitted to serve as a representative payee. Although we don’t yet have clarity on how this change may impact credit unions, we believe awareness is important and InfoSight has been updated accordingly. We’ve contacted the Social Security Administration for more operational information.
Additional information and a new link has been added to the Representative Payees topic regarding changes that become effective next month. Also, see the listings in the Accounts channel, so you’re up-to-date on this information.
Source: InfoSight Compliance
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