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Department of the Treasury - Bureau of the Fiscal Service - Washington, DC 20227

Update to the Bureau of Fiscal Service’s Financial Agent Solicitation for General Lockbox Services dated February 20, 2025

April 14, 2025

In light of the President’s March 25, 2025, Executive Order, “Modernizing Payments To and From America’s Bank Account,” Fiscal Service is clarifying the Financial Agent Solicitation Process (FASP) for General Lockbox Services dated February 20, 2025, in these areas:

  • Page 4 of the Solicitation – Innovation and Process Improvement – Fiscal Service seeks a Financial Agent (FA) that can identify innovative solutions and process improvement to support major initiatives by increasing efficiencies to control or reduce cost. Please provide your suggestions for automating wholesale processing to a more standard process such as retail. The selected FA will demonstrate their ability to meet these expectations in their response to the FASP, as well as be required to provide a written plan for driving innovation/efficiencies and managing/reducing costs on an annual basis throughout the term of the FA Agreement.
  • Page 12 of the Solicitation – Proposal for a 21st century lockbox including ideas for innovation.

As part of your financial institution’s response to these two parts of the solicitation, please make sure to include ideas surrounding digital lockbox processing or processes that could eliminate paper check and remittance processing.

As a reminder, information about the GLN FASP along with the solicitation can be found on the Fiscal Service website at https://fiscal.treasury.gov/gln/ (Off-site). Any questions regarding the application submission process must be submitted to the Fiscal Service via email at GLN2025FASP@fiscal.treasury.gov.

Fiscal Service will hold a Microsoft Teams information session on April 29, 2025, from 11 a.m.-12 p.m. ET. Please send an email to GLN2025FASP@fiscal.treasury.gov requesting an invitation for the information session. Remember to provide email addresses in the request to receive the invitations.

In light of this clarification, Fiscal Service is extending the due date for the GLN FASP Phase 1 proposals from April 29, 2025, to May 30, 2025. Financial institutions should submit their PDF formatted response to GLN2025FASP@fiscal.treasury.gov. Paper versions should be sent by courier or traceable delivery service to:

Mrs. Erika Bevins
GLN Branch Manager
U.S. Department of the Treasury
Bureau of the Fiscal Service
401 14th Street, SW, Room 412D
Washington, DC 20227

Finally, Fiscal Service expects that the President’s Executive Order regarding Modernizing Payments to and From America’s Bank Account will have an impact on transaction volumes. Fiscal Service does not know and will not speculate what that impact will be and does not guarantee any volumes related to this solicitation.

For media inquiries, please contact the Bureau of the Fiscal Service, Legislative and Public Affairs Office at (202) 504-3535.

The Federal Reserve Treasury Services

This communication was sent by the Federal Reserve Banks on behalf of the U.S. Department of the Treasury, Bureau of the Fiscal Service.