If your bank or credit union took your COVID-19 stimulus money, you may have a legal claim.
On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which includes direct payments of up to $1,200 to individual adults, up to $2,400 for married couples filing jointly, and up to $500 for dependent children. Many consumers have begun to receive their CARES Act stimulus payments via direct deposit into their bank accounts. But now, media outlets are reporting that banks and credit unions may be confiscating those stimulus payments for themselves. According to the media, if a consumer has a negative account balance due to an overdraft or some other reason, the bank or credit union might take all or part of the accountholder’s stimulus payment to cover the negative balance.
If your bank or credit union took your COVID-19 stimulus money to cover an overdraft or other negative balance, we want to hear from you. Please provide your information below and an attorney will review your submission.