Outrage Over Bank Seizures of Coronavirus Relief Payments from Debt-Strapped Veterans

from Zero Hedge

Authored by Jake Johnson & Eoin Higgins via CommonDreams.org,

Hours after David Dayen reported Thursday at The American Prospect that USAA was seizing coronavirus stimulus money from veterans with accounts at the financial institution, the bank reversed course, telling Dayen in a statement that the money seized would returned.

“For members with negative deposit account balances, USAA will pause the collection of a negative account balance existing at the time their stimulus payment was deposited for 90 days,” USAA spokesman Matthew Hartwig told Dayen. “This will allow members access to their full stimulus payment to help cover the costs of rent, food and other important necessities.”

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