- Published: Monday, January 11, 2021 09:35 AM
CHICAGO – Assistant Majority Leader Tony Munoz (D-Chicago) applauds the Illinois Department of Professional and Financial Regulation for working with a number of banks to help Illinoisans cash their stimulus checks without incurring check cashing fees.
“I’m glad IDFPR and the banks could work together to help working-class families cash their stimulus checks without paying excessive fees,” Munoz said. “Many residents need these funds to go toward food, housing and other necessities during this difficult time.”
The Federal Deposit Insurance Corporation estimates that over 22% of Illinois households are under or unbanked. Many Illinoisans will receive paper stimulus checks and will have few options to cash the check without fees. IDFPR is working with a number of banking institutions to help non-customers cash their stimulus check for free. Bank of America, First Midwest, Fifth Third, Huntington, Wells Fargo, JP Morgan Chase and U.S. Bank will be able to cash Illinoisans’ stimulus checks without incurring fees.