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Banks point finger at IRS for brief stimulus checks delay

By Naomi Jagoda - 03/16/21 11:46 AM EDT   A group of banking and credit union industry groups on Tuesday defended banks from criticism by customers who haven t received their stimulus payments yet, saying the funds aren’t being sent to financial institutions by the Biden administration until Wednesday. “The IRS recently sent an initial wave of tens of millions of economic impact payments via the Automated Clearing House (ACH) system,” the banking groups said. “The actual funds will be sent to the banks and credit unions on March 17, at which time funds will be made available to customers. Until that time, the funds remain with the government.” 

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