Fourth Stimulus Check Update | Stimulus Package Update & Overdraft Fees are Gone! Stimulus Check 2021 – 2022

And I’m here for you each and every day with all the latest updates so that you can stay tuned with everything going on. And we can ultimately get you as much money and benefits that we possibly can out of these multi-trillion dollars stimulus packages and all of these other changes that are coming out right now. So again, thank you so much for joining me. Subscribe down below. And let’s get into this right away.

All right. Kind of interesting how this all plays out. Right. Some days we get really slow news days and other days it is like this where it’s like, I almost can’t even keep up. Right.

It’s been a very busy day anyway. So let’s get into these updates right away. So earlier, a few hours ago, it has been announced. The first case of the new Covet variant called Omakron has been discovered in California. So while we knew it was coming at some point, we just didn’t know when and this was confirmed by the President as well as Dr. Fauci, as well as many other people out there. They’re basically saying it’s inevitable. It’s coming here. We just don’t know when. Well, it’s official.

It’s here now. The traveler was somebody coming back from South Africa, and it was actually discovered on November 29. This person was actually found to be contagious with this new variant. So it’s here. It’s real here’s.

What’s interesting as this news broke here’s, what’s kind of interesting about this whole thing? So I know I don’t talk about the stock market all that much here, but I want to talk about this because things are getting interesting right now. So the market was up a little over 1% across all of the indices. In fact, the Russell 2000 was up over 2% today. Well, as soon as the news broke, it did a Uturn did a pivot, and all of a sudden it hit the floor.

So the market ended down anywhere between about one point 25% and about one point 75% and even over 2% for some of the indices. So my point is it was up nicely and then it did a Uturn and basically just went right down. So the point is that people are not excited about this. Remember about a year and a half ago, early 2020. Remember when that whole thing took place when we heard about COVID.

Remember that it was all brand new to us and all of a sudden it hit our shores, and it was on a year right in the United States. And it was like, oh, right. Remember that whole thing? Well, I’ve been saying this for a few days now. It is looking weirdly similar to what we were seeing back in early 2020 when all of a sudden we were seeing Kovi go around.

The market was hitting the floor and things were getting wild back then. Not in a good way. Right. Well, it’s looking kind of weird again. Right.

And by the way, a stimulus package is still on the table. So with that being said, let’s talk about the stimulus package now and where we’re sitting with this thing. So as we do know, Congress is back in session. They’re puttering around doing whatever they do. But either way, they are discussing what’s going to be in the package with the Senate parliamentarian.

They’re having ongoing discussions this week with the Senate parliamentarian, which will likely transition into next week, as well as they finally work out the final details of what can actually be included in the bill according to the Senate parliamentarian rules. And they made to need to extract some of the provisions within this nearly $2 trillion stimulus package according to the rules that are laid out by the Senate parliamentarian. Again, this person is like the referee when it comes to everything that’s in the package. She basically says that can be in there or that needs to be removed.

Right.

So they’re still discovering what can actually be in the package, what can stay and what needs to go. But either way, we are getting more clarity on this. And she’s given us some more information. So as Chuck Schumer said, they’re going to be bringing this bill to the floor probably next week. So between now and then, we should be getting a lot more details as far as what may be added and what may need to be removed.

Either way, there’s a lot of stuff going on right now. All right. Let’s quickly talk about an announcement out of a big bank today saying that they will no longer be charging overdraft fees. Wow. Nice.

Right. This is like music to the ears of many people right now. So Capital One was out today saying that they will no longer be charging overdraft fees. Here’s what’s interesting. According to the reports, in 2019 alone, they collected not Capital One alone.

I’m just saying the entire banking sector as a whole. So all banks, right. They collected over $15 billion in overdraft fees. Wow. $15 billion just on overdraft fees in the year 2019, again across the entire banking sector.

So that’s a lot of money. I mean, seriously, I feel like this is the perfect definition of kicking them while they’re down. Right? Somebody doesn’t have enough money. They overdraft.

And what do we do? Let’s give them another fee. Yeah. Let’s slap another $30, $35, $40 fee on top of it. Yeah.

That sounds like a good plan. Not a good idea. So anyway, what’s really nice about this really is typically when something like this comes out, usually other institutions, other banks, anything in the finance category, they usually come out as well and follow suit and basically say, yes, we’re going to follow that. And we’re not going to charge overdraft fees either. So I wouldn’t be surprised at all if we see other banks coming out announcing something very similar.

Other big banks, possibly. Again, I’m not saying this is happening yet because we haven’t got any official announcements from other banks, but I would not be surprised to see other big banks, maybe like US Bank, maybe bank of America, maybe Wells Fargo, maybe chase these big banks. I would not be surprised if we see some of these guys coming out in the coming days here saying, hey, we like, what Capital One’s doing, and we’re going to do that too because here’s the thing. If somebody is a low-income individual or maybe like, don’t have a whole lot of money.

And if you’re somebody who maybe gets overdraft fees on a regular basis, it would be enticing to possibly move all of your stuff to a different bank that doesn’t have overdraft fees just to save you.

That 35 $40, whatever it happens to be every time that you overdraft. Right. That all adds up. And it’s not tolerable for a lot of people. So it would be very enticing to move over to a bank that doesn’t have that.

So again, we’ll have to see her over the coming days. But I would not be shocked one bit to see some of these other big banks out there following along with what Capital One is doing. So it’s a start. It helps. It all helps.

Right. So kind of a cool announcement out of Capital One. All right. Let’s talk about a new bill that was just introduced yesterday in the Senate by a handful of Democratic senators who want to get more food out there for lower-income individuals. Now, as of right now, get this.

According to the reports, 40% of the food in the United States is actually thrown away. Does anybody see a problem with this picture? We have low-income people. We have fixed-income people and who are struggling to get food on the table each and every month each week not having enough food. And then 40% of the food in the United States as a whole, just across everybody is being thrown away.

Does this make any sense? I mean, honestly, it doesn’t make any sense to me. But again, what do I know? Right. But anyway, here’s what they wanted to do with this bill.

It is called the Food Donation Improvement Act. If you want to look it up, feel free that’s what it was announced or that’s what it’s called. It was introduced yesterday in the Senate. So basically what this is is it takes away the liabilities of big restaurants and big corporations and these big people who can actually donate food. But because of the liabilities of actually donating food, they, unfortunately, throw it away a lot of the time.

So basically what this bill does is it takes away the liabilities of restaurants and like a lot of these other places who have a lot of food that they need to otherwise throw away. Right. Perfectly good food. I mean, who wouldn’t love some restaurant food, but unfortunately, because of liability reasons, a lot of times they can’t actually donate it. So it just hits the dumpster instead.

Well, I don’t know about you, but I’d love to take some restaurant food, right. If you guys got some extra restaurant food laying around, I’d be happy to take it for free rather than paying $30 for it. But that’s just me, right? I don’t know. But again, this is just one of those things, one of those bills that would actually encourage food donations versus throwing it away just because they’re scared of the liabilities.

So this is actually something that’s kind of cool out there, especially during a time right now when there’s literally just 40% of our food going in the garbage. That’s a sad situation, especially when there’s so many Americans out there right now looking for more food and not getting enough on a monthly basis, even a weekly basis. So hopefully this is something that will kind of work it’s a way through Congress relatively quickly. According to the reports that I was reading and looking at all about on this, they were saying this should be something that should work its way through Congress relatively easily because literally, all it’s doing is taking away the liabilities for all these people so that they can more easily donate foods to lower-income individuals and these food pantries and things like this.

So again, yeah.

Now again, I can’t speak for all food banks, food pantries. Of course, I don’t know that, but I’ve seen that a number of times down in the comments section where many people are saying it’s kind of the situation. So a lot of times maybe you don’t go or things like that. But either way, hopefully, this will actually encourage a lot more food donations to actually come into those that would actually be really encouraging. And who knows, maybe you can go in and grab a nice hot meal fresh off of a restaurant.

Right? How cool would that be? I don’t know. I’m not really sure how the whole process would work if this whole bill actually goes through and that they’re actually allowed to do this. I’m not really sure how that would actually work as far as the provisions and stuff like that.

But either way sounds pretty nice. Right? So these are some of the updates that I have for you as of right now. Again, there’s actually a lot more out there. But like I said in the previous topic, I usually like to boil it down to about four, maybe five topics at most.

 All right. Enjoy. see you soon