Released: April 21, 2020
Amid criticism, Treasury Dept. reviews seizures of $1,200 relief checks
Source: Jeff Stein & Renae Merle, Washington Post (Paid Registration)
Earlier this month, the Trump administration began directly depositing stimulus checks in the bank accounts of 80 million Americans to help them survive the economic downturn caused by coronavirus. Reports quickly surfaced that some of these payments were being redirected to banks and private debt collectors from people who have overdraft fees, delinquent loans or other debt obligations.
The Treasury Department is reviewing whether it has the legal authority to prevent banks and private debt collectors from seizing $1,200 government stimulus payments, as blowback builds over private lenders clawing back parts of the emergency financial relief package.
Read Full Article: Amid criticism, Treasury Dept. reviews seizures of $1,200 relief checks