Home ❭ News ❭ CTDOB Letter to CT Financial Institutions Re: Use of Stimulus Checks for Overdraft Credit
CTDOB Letter to CT Financial Institutions Re: Use of Stimulus Checks for Overdraft Credit
Over the next few weeks, federal economic stimulus checks will begin to be deposited into some bank accounts. Unfortunately, over the last month or so, all too many have had to use the overdraft protection of their bank, thus owing their bank. Here is a letter from the CT Dept. of Banking urging CT's banks to not immediately use the deposit to cure the overdraft without consent of the customer.
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