IRS, Treasury Announce Next Batch of Economic Impact Payments
The Internal Revenue Service and Treasury announced today that the next batch of economic impact payments will be sent to taxpayers this week, with a payment date of Wednesday, March 24.
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Podcast: Highlights from the 2021 ABA Washington Summit
In this episode, podcast co-hosts Evan Sparks and Monica C. Meinert review highlights from the ABA’s just-concluded virtual Washington Summit. If you missed the Summit, tune in for insight and analysis on the past few days, and if you watched the virtual event, revisit all the highlights in just 20 minutes.
White House Official: Direct Payments Raise Stakes for Unbanked
With more direct payments coming for many Americans in the wake of a new round of economic impact payments, the importance of having a banking relationship will rise for unbanked Americans, White House official Cedric Richmond told ABA’s Washington Summit today.
Financial Trade Groups Address Confusion Around Economic Impact Payment Date
In response to confusion about when consumers can access the latest round of economic impact payments, the American Bankers Association joined a coalition of nine financial trade groups today in issuing a statement confirming that the Internal Revenue Service chose March 17 for EIP funds to become available.
Ensuring the Security of the Digital Banking Experience
Locking down the ecosystem—making the digital banking experience more secure—should be high on the list of goals for the future-is-now bank.
IRS Issues EIP FAQs as Direct Deposits Begin Moving
The IRS tonight announced that the third round of economic impact payments will begin reaching Americans over the next week, with some direct deposit payments arriving as soon as this weekend.
Financial, Consumer Groups Urge Yellen to Shield EIPs from Garnishment
As Congress today passed the $1.9 trillion COVID-19 relief bill—which includes an additional round of economic impact payments for eligible taxpayers—ABA joined a coalition of financial and consumer advocacy groups urging Treasury Secretary Janet Yellen to support standalone legislation to ensure that these payments are shielded from assignment and garnishment.
House Passes Final Version of COVID-19 Relief Bill
By a vote of 220 to 211 today, the House passed the Senate-amended version of the $1.9 trillion COVID-19 relief bill.
Consumers Pay Down Record Amount of Credit Card Debt in 2020
Consumers paid down $82.9 billion in credit card debt in 2020, the largest paydown on record, according to a new report from WalletHub released today.
The Financial Fraud Epidemic
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.