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Mnuchin’s Treasury Dept. Is Letting Banks Seize Coronavirus Relief Checks Up to Full $1200 to Pay Off Debts

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Overdrawn? Late on your mortgage? Owe late fees to your bank or credit card company?

If you are expecting a coronavirus relief check, which most Americans are, up to $1200, be prepared to see a portion of it seized by the bank to pay off those debts.

The U.S. Department of the Treasury, headed by multi-millionaire Secretary Steve Mnuchin, has authorized banks to seize however much of your emergency coronavirus relief payment to pay off debts owed to your bank, according to The American Prospect’s Executive Editor David Dayen.

Congress passed the CARES Act to help the tens of millions of Americans who have been financially impacted by the coronavirus pandemic put food on their tables, pay their rent or mortgage – literally continue to live. Last week Mnuchin’s Treasury effectively told the banks it’s OK to seize what they deem you own them from those payments.

“Banks would be first in line to grab the payments to offset a delinquent loan or past-due fees,” Dayen reports. “Even if the individual thinks their account with that bank is closed, if the payments post there, the bank could conceivably use them to cover old debts.”

While the Treassury didn’t tell banks to go grab the cash, Treasury regulators made clear they are welcome to do so, as Dayen explains:

“The Treasury Department effectively blessed this activity on a webinar with banking officials last week. In audio obtained by the Prospect, Ronda Kent, chief disbursing officer with Treasury’s Bureau of the Fiscal Service, can be heard explaining that banks had posed questions to her about ‘whether these payments could be subject to collection from the bank to which the money is deposited, if the payee owes an outstanding loan or other payments to the bank.’ She responded—twice—that ‘there’s nothing in the law that precludes that action,’ while counseling that the banks’ compliance officers should consult with their legal offices about what policies their banks will implement. ‘You will want to know for your bank what your bank has decided to do,’ Kent said.”

That’s how it works.

Basically, “we’re not telling you you can’t, so do as you please.”

One official told Dayen, “We don’t want to say anything explicitly and are telling you to make a business decision.”

Common Dreams notes Massachusetts Attorney General Maura Healey says the “payments are supposed to help individuals and families put food on the table during this crisis, not enrich debt collectors.”

Dayen says the Treasury Dept. could easily rescind this grant if it chose to.

Read the entire report here.

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GRIFTERS

Melania Trump Monetizes ‘Be Best’ in Blockchain-Based Cryptocurrency NFT Art Scheme

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3 years ago

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December 16, 2021

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Melania Trump has found a way to monetize her time in the White House. The former first lady has launched a blockchain-based cryptocurrency NFT (non-fungible token) art sale in coordination with French artist Marc-Antoine Coulon. She is selling them via Parler, the social media platform that is home to countless white supremacists, white nationalists, and other far-right extremists. The Southern Poverty Law Center reports Parler was “a haven for recruitment and promotion for the Jan. 6 pro-Trump riot at the U.S. Capitol building.”

In a statement on Parler, Melania Trump says she is “excited for this new venture.” It claims a “portion of the proceeds…will assist children aging out of the foster care system,” but does not describe the “venture” as a non-profit, nor does it say how much of the funds raised will go to help children.

“Melania Trump is pleased to announce the Melania Trump non-fungible token (NFT) platform, which will release NFTs in regular intervals exclusively on MelaniaTrump.com. The first NFT, entitled ‘Melania’s Vision’ will be available to purchase for a limited period between December 16 and December 31, 2021,” the statement reads.

As of this writing the melaniatrump.com domain is offline.

“I am proud to announce my new NFT endeavor, which embodies my passion for the arts, and will support my ongoing commitment to children through my Be Best initiative. Through this new technology-based platform, we will provide children computer science skills, including programming and software development, to thrive after they age out of the foster community.”

RELATED –
‘Monster’: Internet Reacts to Audio of ‘Sociopath’ Melania Trump Swearing About Separated Migrant Children

“A portion of the proceeds from the Melania Trump NFT collection will assist children aging out of the foster care system by way of economic empowerment and with expanded access to resources needed to excel in the fields of computer science and technology,” the statement concludes. “The Melania Trump FT platform utilizes the Solan blockchain protocol; and will accept both the SOL cryptocurrency and credit card payments through MoonPay. Parler is powering the platform.”

Noting Trump’s entrance into the NFT world, Bloomberg News adds, “NFTs became hot this year, with celebrities, sports teams and artists trying to get into the action, and the likes of Ripple and Paris Hilton backing efforts to move the space forward.”

She also posted the statement to Twitter:

 

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Trump’s ‘Save America’ PAC Raised $75 Million This Year as He Lies About the Election – Cash Pays for His Travel: Report

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July 22, 2021

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Donald Trump, the erroneously embittered one term former U.S. president has raised $75 million this year through his “Save America” leadership PAC by lying about the 2020 election, an election he and his supporters, surrogates, and allies falsely claim was “stolen.” The funds, collected the PAC, can be spent in a wide variety of ways, including to pay for the flailing Arizona recount, or similar efforts in other states, but according to The Washington Post Trump’s PAC has not spent a dime on those efforts.

“Instead, the Save America leadership PAC — which has few limits on how it can spend its money — has paid for some of the former president’s travel, legal costs and staff, along with other expenses, according to the people, who spoke on the condition of the anonymity to describe the group’s inner workings. The PAC has held onto much of its cash,” The Post reports.

“Even as he assiduously tracks attempts by his allies to cast doubt on the integrity of last year’s election, Trump has been uninterested in personally bankrolling the efforts, relying on an array of other entities and supporters to fund the endeavors, they said.”

Commenting on the report, MSNBC anchor Rachel Maddow mocked the former president on Twitter, saying, “So he’s, like, living off the STOP THE STEAL money?”

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GRIFTERS

Trump and GOP Began Fundraising Off ‘Frivolous’ Lawsuit ‘Within Minutes’: Report

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3 years ago

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July 7, 2021

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It took Donald Trump and the Republican National Committee (RNC), the National Republican Congressional Committee (NRCC), and the National Republican Senatorial Committee (NRSC) just “minutes” to begin fundraising off of what some are calling the former president’s “frivolous” lawsuits against Twitter, Facebook, and Google.

Politico’s Sam Stein posted this text from the joint Trump-RNC fundraising committee:

The New York Times’ Nick Corasaniti posted these screenshots from the Trump/RNC fundraising organization:

“Trump’s baseless Big Tech lawsuit is all about fundraising,” the tech and culture website Mashable reports. “Keep on grifting.”

“After Trump filed federal lawsuits against Google, Twitter, and Facebook for allegedly violating the First Amendment by banning or suspending him from their platforms, the NRCC and NRSC, the fundraising arms of the House and Senate GOP respectively, each sent out text alerts,” Forbes reports. “‘IT HAPPENED,’ said the NRSC – which, along with the NRCC, has spent months hyping Trump’s plans to start his own social media site – adding, ‘Trump announced he is fighting CENSORSHIP by SUING Big Tech companies.'”

Related –
‘Not Competent’: Legal Experts Pan Trump’s Lawyers and ‘LOLsuit’ Against Twitter and Facebook as ‘Going Nowhere’

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