Banks would be blocked from garnishing stimulus payments deposited into consumer accounts if they have past debts under a bipartisan Senate bill introduced Friday.
- “We established these recovery rebates to help individuals and families through the tough times of this pandemic,” Senate Finance Chairman
Chuck Grassleysays in statement
- “ We did not establish them just so debt collectors could swoop in and undermine that purpose”
- NOTE: The CARES Act, which included $1,200 payments for low-and middle-income adults, didn’t prevent banks from garnishing overdraft fees or other debts when the payments were deposited into accounts
Sherrod Brownand Ron...