ELECTRONIC BENEFITS: A Treasury proposal is expected by late August on how the government will deliver Social Security and other federal benefits electronically to the 10 million recipients without bank accounts. A 1996 law requires the federal government to send all government payments, except tax refunds, electronically by Jan. 1, 1999
INTERSTATE: The three banking agencies are expected by late summer to consider a final rule preventing out-of-state branches from draining deposits from communities. The proposed rule would require branches of out- of-state banks to lend at least half as much as the average home-state bank. It was published March 17, and comments were due May 2. The final rule was supposed to have been adopted by June 1, when full-scale interstate branching took effect, but officials say they are still analyzing complexities raised in comment letters.