FIDM (Financial Institution Data Match)

FIDM (Financial Institution Data Match) is a process used by government agencies to identify individuals who owe debts, such as unpaid taxes or student loans. It involves comparing official records with data from financial institutions like banks and credit agencies. If there's a match, the government can take action, such as offsetting tax refunds or wages, to recover owed funds. This system helps ensure that debts are collected efficiently while protecting individuals' privacy and rights during the process.