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.
ABA DataBank: Continued weakness in May housing starts
Continued low construction activity could further reduce demand for construction loans. With building permits coming in only slightly below April’s rate, May’s sharp decline in housing starts could just be a temporary setback.








