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Week
How Stimulus Checks Could Be Denied To The Americans Who Need Them Most
The government has begun distributing $ 600 stimulus checks to millions of Americans. But in reality, having access to that money can be another story. Even as a record number of Americans spent months unemployed amid the coronavirus pandemic, it took Congress months to agree to send another round of stimulus controls and increase unemployment benefits after the latest aid package expired. Millions of Americans suffered during that time and, as The New York Times reports, they often had to overdraw from their bank accounts to pay for food and other essentials. In return, banks have charged those people overdraft fees and have often locked people out of their accounts until those fees are paid. those who need them most. That includes Morgan Banke, who told the Times that he has only been able to pay his rent or car insurance each month, and that he has been discovered at his Iowa credit union to cover the rest. He asked the credit union to temporarily waive its commissions so he could use the stimulus money, but because he had done it three times in the past, he turned it down. Many major banks – Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, among them – have said they will waive overdraft status on accounts when checks arrive. But many regional banks and credit unions have not made the same promises, and have even closed accounts with overdrawn balances, leaving Americans with their slower checks. Read more at The New York Times. More stories from theweek.com 5 Cartoons About the End of a Very Very Bad Year Frustration is mounting over the slow pace of the launch of the ‘Irritated’ vaccine Trump will skip his New Years Eve party in Mar-a-Lago
