The IRS today issued a reminder to consumers still awaiting their CARES Act economic impact payment that they may be receiving the payment on a prepaid debit card.
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The OCC today released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
ABA Joins Consumer, Banking Groups in Support for Bill to Prevent Garnishment of Economic Impact Payments
The American Bankers Association today joined with twelve consumer groups and banking industry organizations in supporting a bipartisan bill that would prevent CARES Act economic impact payments from being subject to garnishment by private debt collectors.
With consumers in the economic driver’s seat, here’s a look at several key indicators of the hit they’ve taken during the coronavirus pandemic.
A total of 130 million Americans received economic impact payments totaling more than $200 billion within the first four weeks of the program, according to updated data released by the IRS today.
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.
More than three out of four respondents said the economic impact payments included in the CARES Act would either temporarily or significantly support them financially for the next one to two months. Over half have used their EIP funds to purchase necessities, pay down debt or pay rent or a mortgage.
A total of 88 million Americans received economic impact payments totaling $158 billion within the first three weeks of the program, the IRS reported today.
As the Treasury Department prepares to issue paper checks to economic impact payment recipients, the U.S. Secret Service released a notice for consumers, retailers and financial institutions with tips for identifying a legitimate, government-issued check.
The American Bankers Association today joined a broad coalition of financial trade and consumer organizations in a letter to congressional leaders urging them to exempt the CARES Act economic impact payments from garnishment orders.