Interview op’ with Jack Hanney (in Eastern Time) by Skype, Zoom or Phone
Topic:
CBS News– The IRS has started distributing a third round of federal stimulus payment, worth up to $1,400 per eligible adult and child. But exactly when Americans get a check may depend partly on a bank’s individual policies, with some customers of JPMorgan Chase and Wells Fargo expressing frustration after the banks said the coronavirus relief payments won’t be available until March 17.
About 90 million payments, worth a combined $242 billion, were deposited into accounts on Wednesday, the Treasury Department said in a statement. It added that another 150,000 checks worth about $442 million were sent by mail. Within the next 10 days, about 100 million checks should reach U.S. households, IRS and Treasury officials said earlier this week.
Wells Fargo and Chase said the timing of the payments is outside their control. Although the IRS started issuing payments over the weekend, the official payment date was set for March 17, Wells Fargo and JPMorgan Chase told CBS MoneyWatch. Wells Fargo added that it “is not holding the funds” and that it will deposit the money into accounts as soon as possible.
On Wednesday, JPMorgan Chase said it had deposited all the funds it had received from the IRS into customer accounts. Some Wells Fargo customers reported problems accessing their online accounts on Wednesday morning, which the bank said it was working on fixing. By mid-afternoon, Wells Fargo said it had resolved the issue.
“We apologize to our customers who may be experiencing issues with our online banking this morning due to high volumes,” a Wells Fargo spokesman told CBS MoneyWatch in an emailed statement. “This does not affect stimulus payments with March 17 effective date which were credited to accounts today. We are working to address the issue as quickly as possible.”
Other banks credited the funds to customer accounts immediately. Current, a New York-based banking startup, used its own balance sheet to credit the funds rather than waiting for settlement. Some of its customers received access to their stimulus funds on March 12, a day after President Joe Biden signed the $1.9 trillion bill into law.
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 25+ years and is widely heralded as an expert in his field.
Jack was born and raised in Westchester County, NY. Jack subscribed to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under Investor’s Business Daily founder William O’Neill.
Jack Hanney went on to be the General Manager and Director of Sales at several algorithmic automated trading companies trading the futures and commodities markets working with Introducing Brokers out of Chicago, Geneva and NYC. Jack was recruited by several tech startups and made a name for himself at Infosearch Media, Virtumundo and The Design People before returning to Finance. Jack passed on Morgan Stanley and other reputable, prestigious Brokerage firms to be a CFP in their Wealth Management Divisions and opted for a position as Senior Executive Trader with MG Private Client Services where he spent 4 years 2010-2014.
Jack Hanney had spent two years as Director of Trading, Executive Vice President of WDM overseeing the Retail Division before cofounding Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over half a billion dollars in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner. Jack resides in Los Angeles, California with his wife Amy and is the proud father of his two daughters, Kate age 13 and Luna age 21 & their two dogs Roxy & Daisy.
CONTACT: To schedule an interview with Jack Hanney, email Jerry McGlothlin of Special Guests at 919-437-0001 jerry@specialguests.com
100 Guests/Topics: https://specialguests.com/guests-topics/
