HUD Issues Policy on Social Security Benefits

Under a U.S. Department of the Treasury rule, most federal benefits now require an electronic payment instead of a paper check, effective March 1. Recipients receiving their Social Security benefits electronically are allowed to request direct deposit or they can have the benefit deposited onto a debit card called Direct Express. HUD issued a policy directing owners to treat Direct Express Debit Cards like a savings account, requiring only a balance no more than 120 days old. For more information on the rule, click here.

Contact: Ken Harris, kharris@leadingageny.org, 518-867-8383, ext. 139