AOC wants Robinhood to give customers the profits from payment for order flow. Here's what she's talking about
What is payment for order flow? The payment for order flow process matters because it's how Robinhood makes the majority of its revenue, according to Tenev's testimony on Thursday. It's not just Robinhood; many major brokerages, including Charles Schwab, E-Trade and TD Ameritrade, all generate significant revenue from payment for order flow. Payment for order flow has its criticsWhile the payment for order flow process has its upsides, critics say it may not be in the best interest of customers. "Would you be willing today to pass on the proceeds of your payment for order flows to Robinhood customers?"cnbc.com
IRS investigating hundreds of COVID-19 scams, warns Illinois taxpayers
“This payment is meant to help those that are struggling to get by as a result of the economic downturn caused by the pandemic,” said Cantu. “Be wary of any phone calls, emails, or text messages asking for your personal information or offering a deal that seems too good to be true.”chicagotribune.com
Debate possible during local stimulus vote as one council member says it’s not enough
JACKSONVILLE, Fla. – A special meeting to grant some Jacksonville residents $1,000 for local stimulus relief may hit a couple of snags as a council member wants to see some revisions to the plan. Councilman Garrett Dennis said the requirements need to be loosened so more people qualify for the payment. Dennis is referring to the more than $160 million the city of Jacksonville received from the federal government’s CARES Act. An additional qualification requires the applicant to have lost at least 25% of their income due to the COVID-19 crisis. Information on how to apply for the stimulus is not available yet, but News4Jax learned applications will be available both online and by phone.
When will I get my stimulus check? & 8 other common questions
JACKSONVILLE, Fla. – News4Jax has been flooded with questions and concerns over viewers’ stimulus payments. What happens if I get the confusing error message “Payment Status Not Available"? RELATED | Those behind on child support might not see a stimulus checkWhat do I do if my check was deposited into the wrong account? RELATED | How to check on the status of your stimulus paymentWill eligible unemployed people get these stimulus payments? Here’s how you can get your stimulus check faster and electronicallyNon-filers can complete an application on the IRS website with simple information so the agency has the most up-to-date banking details on file.
Everything we know about the timeline of stimulus payments
Americans are highly anticipating the release of the federal government’s coronavirus relief stimulus check, but the timeline as to when payments will be released has been unclear at best. One plan outlined the first wave of payments were going to be dispersed Thursday, but all indications thus far show those payments didn’t come. Treasury Secretary Steven Mnuchin has not given a specific timeline beyond the expectation that payments will go out “within three weeks". News outlets have reached out to the Treasury and IRS for comment on the timeline, but no spokespeople were available. What if you never received a direct deposit from the IRS?
FAQs: Payments and interest suspended for all federal student loans
JACKSONVILLE, Fla. – The Coronavirus Aid, Relief, and Economic Security (CARES) Act aims to provides relief from the unprecedented issues created by the coronavirus pandemic. Included in the many components of this $2 trillion package is a six-month relief for student borrowers. The CARES Act suspended loan payments and accumulating interest through September 30 for borrowers of federal loans. No action is required for the payment to be suspended The federal loan provider will automatically take care of it. If someone contacts you about paying a fee to suspend your loans, do not fall for it, it’s a scam.