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And here is today's scoop: USAA bank, one of the nation's largest, is grabbing coronavirus emergency checks. One family, a vet on disability, his wife and 2 kids, lost $3400, and USAA told them "you shouldn't have gotten into debt in the first place"
prospect.org/coronavirus/us…
USAA admitted to me they will reduce these emergency payments, intended for basic necessities during an economic crisis, if the payment is "deposited into an account with a negative balance." prospect.org/coronavirus/us…
The family hadn't accessed the account in over a year; they closed it after fraud was detected on the account. USAA said it wasn't fraud & they owed $8,000.
The IRS had the account on file so they sent the family's payment there. And USAA took it. prospect.org/coronavirus/us…
I have text messages from customers complaining to USAA that the bank took their stimulus money, and USAA bluntly saying if they have a negative balance they'll reduce it.
prospect.org/coronavirus/us…
I have since heard from other individuals that US Bank is also taking stimulus money. And the NY Times also found people in this situation (thanks to them for crediting me) nytimes.com/2020/04/16/bus…
I am really furious about this. It's not just that Treasury needs to put a stop to this, all of these charges need to be reversed and every individual needs to be made whole on these stimulus checks. I have no good opinion of banks but this is their lowest point.
The family who had $3,400 taken from them by USAA is from Minneapolis. Here's their rep in Congress, @IlhanMN: prospect.org/coronavirus/us…
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