Bank of American ATMStephen Chernin/Stringer/Getty Images

US bank deposits have grown by a record $2 trillion since January, when the coronavirus pandemic first hit the country, according to FDIC data.
In April alone, bank deposits grew by $865 million, more than the previous record for an entire year of inflows. 
Bank deposits have been boosted by unprecedented fiscal stimulus amid the pandemic, including one-time checks to households and the Paycheck Protection Program.
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A record $2 trillion of cash has been piled into the deposit accounts of US banks since the coronavirus pandemic first hit the country in January, according to data from FDIC

In the week ending June 10, deposits in US banks totaled $15.47 trillion, according to the FDIC. That’s nearly $2.2 trillion more than the $13.3 trillion that banks had in their deposit accounts at the end of February, the data showed. See the rest of the story at Business Insider

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PelosiWin McNamee/Getty Images

The House passed a $3 trillion coronavirus bailout, dubbed the HEROES Act, with a 208-199 vote.
Spanning 1,815 pages, the bill outlines a list of priorities, including another round of $1,200 stimulus checks, a raise for essential workers, and increased health insurance coverage.
Despite passage in the House, it is not likely to be backed by Senate Republicans, who have expressed disapproval of the bill.
During its unveiling by House Democrats earlier this week, Senate Majority Leader Mitch McConnell called the bill a “big laundry list of pet priorities” that has “no chance of becoming law.”
However, being signed into law is not entirely the mission of the HEROES Act.
“Instead, its passage was meant for Democrats to demonstrate their priorities and signal what they will fight for in a later bipartisan bill that could pass in June,” Business Insider’s Kimberly Leonard reported.
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The House passed a second $3 trillion bill aimed at providing relief and support to those impacted by the coronavirus pandemic on Friday.

The bill, known as the Health and Economic Recovery Omnibus Emergency Solutions Act, or the HEROES Act, follows the first coronavirus bailout signed into law in late March with bipartisan support, the CARES Act.See the rest of the story at Business Insider

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