Up to 20% of eligible households for the child tax credit may not receive funds via a bank account when disbursement begins in mid-July, per Biden administration estimates.
Democratic lawmakers plan to ask bank executives at hearings this week how they have dispensed funds throughout the pandemic, House and Senate aides say.
Complaints filed to the CFPB about prepaid government benefit cards have surged during the pandemic, according to the agency’s database.
Trillions of dollars of aid have been sent to U.S. adults since the start of the coronavirus pandemic in the form of stimulus checks and unemployment benefits. That’s put a strain on the often outdated systems that federal governments and states use to disburse money, especially when it comes to unbanked and underbanked Americans.
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