Payments News

On The Web

nbsp;

Domains

U.S. state unemployment payments in April jump 5-fold from February

“Unemployment payments jumped to at least $16.2 billion in April, up more than five-fold from February, as layoffs attributed to the coronavirus pandemic swept through the economy. The figure is still preliminary, with April payment data for six states including Florida and Michigan still not available on a Department of Labor Web site that provides […]
nbsp; nbsp;

Domains

U.S. Consumer Sentiment Unexpectedly Rises Amid Relief Payments

“U.S. consumer sentiment posted a surprise increase in early May amid widespread virus-relief payments and discounts for big-ticket items, though pessimism deepened about the longer-term outlook for incomes and the economy. The University of Michigan’s preliminary sentiment index rose 1.9 points from an eight-year low to 73.7, according to data Friday. That compared with the […]
nbsp; nbsp;

Domains

About $1.4 Billion in Stimulus Checks Sent to Deceased Americans

“The federal government has sent stimulus checks of up to $1,200 to millions of Americans — including deceased individuals. A new report from the Government Accountability Office finds that about 1.1 million payments, totaling almost $1.4 billion, mistakenly have been sent to dead people as of April 30.   Those errors come as the U.S. […]
nbsp;

Domains

Second Stimulus Payment Could Deliver Cash Even Faster

“Congress is poised to approve a second round of stimulus payments for U.S. households, and money could reach many Americans faster this time. The Internal Revenue Service now has procedures, online tools, bank-account information and coordination with other agencies that it didn’t have set up in advance when the first round of payments was approved […]
nbsp; nbsp;

Domains

Americans Lost $77 Million to Covid-19 Fraud — and That’s Just the ‘Tip of the Iceberg’

“Americans have lost more than $77 million in fraud related to Covid-19, according to the Federal Trade Commission. But that tally is likely a severe undercount amid an “unprecedented” scope of scams connected to the coronavirus, according to John Breyault, vice president of public policy, telecommunications and fraud at the National Consumers League, a consumer […]
nbsp;

Domains

Why Changing Unemployment Payments Could Take Months

“There are 53 different unemployment systems across the United States and its territories, all of them inundated with record numbers of unemployment claims , and they all have different ways of calculating and handing out benefits. As of now, they all dispense their normal unemployment checks, which vary based on the state and how much […]

On The Wires

nbsp;