Economic Impact Payments

On March 27, 2020, President Trump enacted the CARES Act which provided for the distribution of Economic Impact Payments to most Americans to help them deal with the loss of income caused by COVID-19. The MBA will regularly update this page with the latest information pertaining to Economic Impact Payments as we receive it or produce it.  

Joint Trade Groups Letter to Congressional Leadership Asking for Additional Protection of EIPs from Garnishment

(1/4) IRS Guidance on Second Round of EIP

(12/30) Ask the Fed Webinar Presentation on EIP Round 2 Information for Bankers

EIP Debit Cards FAQ

IRS FAQs on EIPs - updated 5/6

(5/1) Treasury FAQs on EIPs

(4/30) Ask the Fed Webinar on Economic Impact Payments Updates

FDIC FAQs on Economic Impact Payments - updated 4/23

(4/20) Secret Service and Treasury Know Your U.S. Treasury Check Press Release

(4/15) NACHA Economic Impact Payment FAQs - updated 4/15

CFPB Video on Stimulus Payments for Non-Filers - Paper checks take longer to receive, and consumers should contact their local bank to set up a direct deposit and can follow the instructions in this video.

CFPB Economic Impact Payments FAQs - updated 4/15

Treasury Notice on Checks for Economic Impact Payments

Treasury FAQs on Economic Impact Payments - updated 4/14

Treasury Check Verification for Economic Impact Payments

(4/16) Ask the Fed Economic Impact Payments Presentation

(4/17) ABA Economic Impact Payment Webinar Recording

(4/9) ABA Economic Impact Payment FAQs