The Biden administration sees this fulfilling its promise of sending $2,000 in total stimulus checks in 2021.
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Congress did not exempt the CARES Act stimulus checks from private debt collection and Wells Fargo, Bank of America, Citibank, and U.S. Bank have not ruled out using payments to offset outstanding debts...
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The IRS said it is officially releasing the direct payments on March 17, so it may take a few more days for major banks to clear them.
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Four of the largest US banks have promised not to take people's stimulus checks for debt, but many Americans who bank elsewhere are still vulnerable.
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Banking news
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