- BM Technologies (BMTX -1.8%) announced it has already disbursed $377M in government funds to its customers since March 2020.
- The government funds, including stimulus payments and tax refunds, have been made available to customers up to three days early; customers are earning interest on these funds in BM Technologies' interest-bearing checking accounts.
- While banks were urged to waive fees by federal regulators in 2020, they are expected to collect $30B+ in fees from last year, with the average charge being $33.47; contrary, BM Technologies has no-fee and low-fee accounts.