News

Dory Rand, President of the Woodstock Institute, achieved a significant victory for millions of low-income individuals nationwide who receive their SSI payments through direct deposit of a government public benefit. Chase was charging customers a monthly fee if they did not have at least one direct deposit of at least $500 per month. Following a meeting in Chicago on May 9th with the Woodstock Institute (who also represented the views of multiple organizations including the California Reinvestment Coalition and the National Disability Institute), Chase has agreed to change their policy so that customers with direct deposits of at least $500 per month in aggregate from Social Security payments will qualify for the fee waiver.

If you are an SSI recipient, please check with your bank about possible fees involved in direct deposit. Thank you Dory Rand and the Woodstock Institute for your leadership.