Ally Bank forgives overdrafts so customers can get full stimulus check - Business Insider

Ally Financial CEO Jeffrey Brown speaks at the TMCF 32nd Anniversary Awards Gala on October 19, 2019 in Washington, DC.Ally Financial said Wednesday it would forgive overdrafts — without asking for repayment — so clients can receive their whole check.

Business Insider has asked Ally for more details, like any limits on overdraft forgiveness or total forgiven so far, and will update this post if any information is received. Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

There is a law protection on economy payments. You can't seize them.

Wow

They really are a good bank. Been very happy with them.

Damnit! I should’ve raked up a negative balance.

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In Race for Small-Business Loans, Winning Hinged on Where Firms BankThe small businesses that received government aid weren’t always the ones with the greatest needs or the best chances to survive the pandemic. When it comes to corporates and businesses who are worth millions and billions of worth, these sick govt wouldn't even bat an eye to bail them out but when it comes to bailout the people, they'd required messy criteria to be eligible for it. Fuck the corporate govt. This wasn’t built into the PPP. You could have written this article before it went live This IS HORRIFYING TO THOSE IN THE MOST NEED.. HOW WILL WE EVER BE ABLE TO PULL THRU,W/OUT SERIOUS CONSIDERATIONS MADE. IN ADDITION TO THE CREDITORS ETC, SMALL BIZ OWNERS WILL Need TIME TO GET BUSINESS GENERATING CASH FLOW DOES NOT HAPPEN IMMEDIATELY.
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