Privacy Act of 1974; System of Records

Issuing agencies

Abstract

In accordance with the requirements of the Privacy Act of 1974, as amended, (Privacy Act), the Federal Housing Finance Agency (FHFA or Agency) is proposing to modify an existing system of records titled, "Financial Management System, FHFA-2." This system of records contains documentation pertaining to prospective, present, and former FHFA employees, contractors, and vendors relating to government travel, vendor accounts, employee reimbursements, interagency transactions, aggregated employee pay records, vendor registration data, purchase- card accounts and transactions, and program payment agreements. The purpose of the system is to support the management and administration of FHFA's accounting and financial operations, travel and purchase-card programs, and acquisition and contract management services. FHFA collects and maintains these records to ensure the orderly processing of the Agency's financial transactions and payments, including travel arrangements, reimbursements, employee payroll, and purchase-card payments. The system organizes and enables the retrieval of these records, which ensures that all financial transactions and payments are processed timely, consistently and in compliance with federal requirements. The proposed modifications include: revising the system security classification, system location, system manager, and legal authorities for maintenance of the system; clarifying the purpose of the system, categories of individuals covered by the system, and categories of records maintained in the system; the revision, removal, and addition of routine uses; removal of the Disclosure to Consumer Reporting Agencies section; updating the policies and practices for storage of records, the policies and practices for retention and disposal of records, and the administrative, technical, and physical safeguards; and minor updates for clarity and consistency.