The IRS has updated its FAQs on the CARES Act economic impact payments to reflect that the deceased (as well as heirs receiving payments in their name), non-resident aliens and incarcerated individuals are not eligible to receive EIPs and must return them. The obligation to return funds is on the ineligible recipients, not on banks.
FDIC tables proposals concerning regulatory review of bank control
The FDIC Board today two resolutions concerning bank control after both failed to gain majority support, with their sponsors promising...