The federal government has begun distributing $600 stimulus checks to hundreds of thousands of Individuals. However really gaining access to that cash could also be one other story.Whilst file numbers of Individuals spent months unemployed amid the coronavirus pandemic, Congress took months to comply with ship out one other spherical of stimulus checks and increase unemployment advantages after the final aid bundle expired. Hundreds of thousands of Individuals suffered throughout that point, and, as The New York Occasions reviews, usually needed to overdraw from their financial institution accounts to pay for groceries and different necessities. In return, banks charged these individuals overdraft charges, and have usually locked individuals out of their accounts till these charges are paid.Meaning the $600 stimulus checks, which the federal government steadily deposits instantly into financial institution accounts, might be out of attain for the individuals who want them most. That features Morgan Banke, who instructed the Occasions she has solely been capable of pay both her lease or automotive insurance coverage each month, and has overdrawn from her Iowa credit score union to cowl the remaining. She requested the credit score union to quickly waive her charges so she might use the stimulus cash, however as a result of it had carried out so thrice previously, it turned her down.Many main banks — Financial institution of America, Citigroup, JPMorgan Chase, and Wells Fargo amongst them — have stated they will waive accounts’ overdrawn standing when the checks are available. However many regional banks and credit score unions have not made the identical guarantees, and have even closed down accounts with overdrawn balances, leaving Individuals to get their checks one other, slower approach. Learn extra at The New York Occasions.Extra tales from theweek.com 5 cartoons concerning the finish of a really, very unhealthy yr ‘Irritated’ Trump will skip his Mar-a-Lago New Yr’s Eve occasion Are pandemic aid checks making UBI inevitable?