A total of 130 million Americans received economic impact payments totaling more than $200 billion within the first four weeks of the program, according to updated data released by the IRS on Friday. The data included a breakdown of EIPs issued by state, as well as the total number and amount of EIPs sent to individuals with foreign addresses. The IRS is expected to deliver a total of 150 million payments to eligible individuals and households in the coming days as authorized by the CARES Act.
As EIPs are disbursed, ABA is working to help unbanked consumers open bank accounts so they can receive their CARES Act payments electronically. ABA has compiled a partial list of institutions offering accounts that can be opened online and funded with an EIP. Read more. View the list.