By Michael Collins, USA TODAY WASHINGTON – A warning for Americans who will receive $1,400 stimulus checks under the third round of direct COVID-relief payments: If you have unpaid debts, creditors may come after your money. Debt collectors will be able to garnish the stimulus funding that will be distributed to millions
By Ayelet Sheffey, Business Insider Ahead of its expiration date on March 31, the Federal Reserve Board announced on Monday that it is extending the Paycheck Protection Program (PPP) Liquidity Facility through the end of June, allowing continued distribution of funds through the PPP to small businesses. The PPP was implemented under the CARES Act in March, and
By Stephanie Jane Bentley & John Maddock, JD Supra The COVID-19 pandemic hit the United States with force in March 2020. As the virus rapidly spread, the federal government responded with temporary changes to the Bankruptcy Code through the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES
By Paul Davidson, USA TODAY It was supposed to be a dark winter for the economy. But buoyed by government relief aid, falling COVID-19 cases and the vaccine rollout, growth is expanding briskly and the economy is projected to boom this year as pandemic-related restrictions ease. Some economists even predict
By Carmen Reinicke, CNBC Millions of self-employed and gig workers got good news this week. The Biden administration on Monday changed how the Small Business Administration’s Paycheck Protection Program calculates forgivable loans for the smallest firms and sole proprietors. But there’s a catch. The updated formula — which will likely
By Kelly Anne Smith and Kemberley Washington, Forbes President Joe Biden’s $1.9 trillion American Rescue Plan Act is inching its way toward coming to life. The House released its draft of the bill late last week. As with all major pieces of legislation, however, what ends up in the final
By Anneken Tappe, CNN Business New York (CNN Business) – The US economy fared ever so slightly better in the fourth quarter of 2020 than initially thought. The nation’s gross domestic product grew at an annualized and seasonally adjusted rate of 4.1%, the Commerce Department reported in its second reading of the data
By Tiffany Hudson, Alexa Mencia, Joe Khalil, Haley Townsend, Michael Geheren, Fox 8 WASHINGTON (NewsNation Now) — The House of Representatives will vote Friday on the $1.9 trillion COVID-19 relief bill, advancing a top priority of President Joe Biden. Majority leader Steny Hoyer announced the vote on Twitter. “The American
By Elisabeth Buchwald, Market Watch ‘It’s been bizarre with this recession to see credit scores go up’ If you looked at Americans’ credit scores lately, you might conclude that most people in the U.S. are financially healthy. In fact, you might be led to believe that despite causing an economic
By Annie Nova, CNBC Struggling student loan borrowers who own a business received some welcome news this week: They will no longer be excluded from the Paycheck Protection Program. Any business owned 20% or more by a borrower who had fallen behind on their payments previously could be determined ineligible
