"Existing debts" = Overdrawn Accts
The move comes after a report in the American Prospect that the insurance and banking firm was taking veterans’ and military family members’ stimulus checks — some totaling $3,000 or more — to settle existing account balances and debts. Company officials initially defended the move as permissible under federal rules.
The checks were part of a $2 trillion economic stability package passed by Congress last month designed to help families cover immediate debts and expenses related to the coronavirus outbreak, which has sickened more than 600,000 Americans and closed down numerous businesses indefinitely.
More than 22 million Americans have filed for unemployment benefits in the last month, according to the Department of Labor.