Lower-income recipients of COVID-19 relief payments are quickly spending the money they get, the Wall Street Journal reported Sunday (Feb. 14), citing data gleaned from tracking of usage of debit and credit cards. The federal government began sending a new round of stimulus payments to...
Federal Reserve Chair Jerome Powell and U.S. Treasury Secretary Steven Mnuchin told a House committee Tuesday (Sept. 22) that marked economic progress has been made since the depths of the pandemic in March. But they said there’s more work to be done, especially in addressing...
“Worst quarter ever.” It sounds like a bit of hyperbole, but that’s an accurate description of the quarter that started in March and ended in June as COVID-19 was raging. Figures out Thursday from the Bureau of Economic Analysis showed that the U.S. economy contracted by...
Many Americans were in precarious financial situations before the COVID-19 pandemic hit. Forty percent of respondents told the Federal Reserve in 2018 that they would either be completely unable to afford a surprise $400 expense or would have to sell something to do so. The...
July 28, 2020
The pandemic has changed how consumers purchase goods, with many avoiding brick-and-mortar stores due to the continued threat of catching the virus in public spaces. Shoppers are instead redirecting their purchasing energies toward the digital realm, with recent PYMNTS research finding that 29.2 percent of U.S. consumers did at least some shopping online as of […]
April 27, 2020
Nothing brings money to top of mind like tax season — and tax refunds and stimulus payments, doled out in the wake of a pandemic known as the coronavirus. The...
February 15, 2021
Lower-income recipients of COVID-19 relief payments are quickly spending the money they get, the Wall Street Journal reported Sunday (Feb. 14), citing data gleaned from tracking of usage of debit and credit cards. The federal government began sending a new round of stimulus payments to families of individuals making less than $75,000 annually during the […]
June 01, 2020
Americans continue to face problems with accessing stimulus debit cards, with some people receiving cards they can’t use due to the wrong names being printed on them. Issues in the...
May 20, 2020
CVS Health has agreed to return $43.3 million in payments it received through the CARES Act’s Provider Relief Fund, Fox Business reported. In a letter to Health and Human Services...
May 18, 2020
The U.S. Treasury Department and the IRS are planning to send out around 4 million Economic Impact Payments (EIP) via Visa prepaid debit cards rather than paper checks this week,...
