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Paper Food Stamps - Monday, April 13, 2009
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As outlined in the U.S. Food, Conservation and Energy Act of 2008, as of June 18, 2008, states are prohibited to issue paper coupons to participants in the Supplemental Nutrition Assistance Program (SNAP). In addition, the law de-obligates paper coupons as legal tender after June 17, 2009.
It is important that retailers and financial institutions that accept and redeem paper food coupons take note of the following dates:
- After June 17, 2009 – authorized retailers must stop accepting paper food coupons from program recipients.
- After July 17, 2009 – retailers may no longer redeem paper food coupons at their financial institutions for credit.
- After September 17, 2009 – financial institutions may no longer submit paper food coupons to the Federal Reserve for credit to their accounts.
To help ensure timely redemption of paper coupons in accordance with these dates, we encourage financial institutions to share this information with their customers who are participating SNAP retailers.
See FedFlash arcticle, link provided below: |
For more information visit: HTTP://www.frbservices.org/fedflash/fedcash/fedcash_services_0409_01.html
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