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US Banking Giant Accused of Refusing To Reimburse Customers, Denying Millions of Dollars in Fraud Claims ‘Without Any Explanation Whatsoever’

US Banking Giant Accused of Refusing To Reimburse Customers, Denying Millions of Dollars in Fraud Claims ‘Without Any Explanation Whatsoever’

A new class-action lawsuit accuses one of the largest banks in the US of failing to properly investigate and handle fraud claims while wrongfully denying customers millions of dollars in reimbursement. The proposed suit, filed by Leah Walton on behalf of herself and others similarly situated, says the plaintiff’s problems began when her Capital One […]

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JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans

JPMorgan Chase, Bank of America and Citibank Flagged for Holding Trillions of Dollars in Derivatives Without Proper Contingency Plans

US regulators are flagging JPMorgan Chase, Bank of America, Citibank and Goldman Sachs over the banks’ contingency plans for trillions of dollars in derivatives. The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) say the lenders’ so-called “living wills” – which in part detail how banks could safely unwind their derivatives portfolios without requiring government […]

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$63,000,000,000 in US Treasuries and European Bonds To Be Liquidated As Unrealized Losses Hammer Major Bank in Japan

,000,000,000 in US Treasuries and European Bonds To Be Liquidated As Unrealized Losses Hammer Major Bank in Japan

A banking giant in Japan has announced a plan to liquidate $63 billion in US and European treasuries in an attempt to mitigate a massive amount of unrealized losses on its balance sheet. Japan’s Norinchukin Bank, which has $681.6 billion in total assets, plans to complete the sell-off of sovereign bonds by March of next […]

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$526,714,000,000 Bank Reveals Data Breach As Hacker Claims Personal Information of 65,000 Account Holders For Sale: Report

6,714,000,000 Bank Reveals Data Breach As Hacker Claims Personal Information of 65,000 Account Holders For Sale: Report

One of the largest banks in the US says it has suffered a security breach as a notorious hacker claims sensitive data on thousands of account holders is now for sale. North Carolina-based lender Truist Bank just confirmed its systems were breached in October, reports tech news site Bleeping Computer. The confirmation comes after the […]

The post $526,714,000,000 Bank Reveals Data Breach As Hacker Claims Personal Information of 65,000 Account Holders For Sale: Report appeared first on The Daily Hodl.

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JPMorgan Chase Accused of Leaking Customers’ Personal Information and Social Security Numbers in Secret Facebook Transmissions: Class-Action Lawsuit

JPMorgan Chase Accused of Leaking Customers’ Personal Information and Social Security Numbers in Secret Facebook Transmissions: Class-Action Lawsuit

A new proposed class-action lawsuit accuses JPMorgan Chase of illegally sending sensitive personal information on its own customers directly to Facebook. In a complaint filed in the U.S. District Court for the Southern District of New York, plaintiff Daniel Onn alleges JPMorgan has violated the California Invasion of Privacy Act on a massive scale. According […]

The post JPMorgan Chase Accused of Leaking Customers’ Personal Information and Social Security Numbers in Secret Facebook Transmissions: Class-Action Lawsuit appeared first on The Daily Hodl.

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US Government Seizes $5,254,133 in JPMorgan Chase Bank Accounts, Alleges Funds Stolen in Sophisticated Scheme

US Government Seizes ,254,133 in JPMorgan Chase Bank Accounts, Alleges Funds Stolen in Sophisticated Scheme

The US Government has seized $5.25 million in six bank accounts at JPMorgan Chase, alleging the funds are the proceeds of a sophisticated fraud scheme. A complaint filed by the US Justice Department says the funds were stolen from a workers union in Massachusetts that was tricked into wiring millions of dollars directly to scammers. […]

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$24,315 Drained From Customers’ Bank Accounts After Employee at Major US Lender Goes Rogue: FDIC Report

,315 Drained From Customers’ Bank Accounts After Employee at Major US Lender Goes Rogue: FDIC Report

The Federal Deposit Insurance Corporation (FDIC) says a former US bank employee has admitted to stealing thousands of dollars from customers’ accounts. The FDIC accuses Derrick Alan Smith of directly or indirectly violating laws and recklessly engaging in unsound and unsafe practices while working as a branch banker at the North Carolina-based lender Truist Bank. […]

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JPMorgan Chase, Bank of America and Wells Fargo Customers Lose $456,000,000 in One Year To ‘Dirty Little Secret Called Zelle’: Senate Committee Chairman

JPMorgan Chase, Bank of America and Wells Fargo Customers Lose 6,000,000 in One Year To ‘Dirty Little Secret Called Zelle’: Senate Committee Chairman

JPMorgan Chase, Bank of America and Wells Fargo are failing to protect customers from hundreds of millions of dollars in scams and fraud per year, according to a US Senate panel. At a hearing held by the Permanent Subcommittee on Investigations, Democratic Senator and Chairman Richard Blumenthal said the banking giants’ customers submitted claims to […]

The post JPMorgan Chase, Bank of America and Wells Fargo Customers Lose $456,000,000 in One Year To ‘Dirty Little Secret Called Zelle’: Senate Committee Chairman appeared first on The Daily Hodl.

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Wells Fargo Employee Sells Customers’ Personal Information, Triggering $688,000 in Fraudulent Transactions: US Banking Regulator

Wells Fargo Employee Sells Customers’ Personal Information, Triggering 8,000 in Fraudulent Transactions: US Banking Regulator

A US regulator is banning a former Wells Fargo employee from the banking industry after she allegedly sold private customer information and triggered more than half a million dollars in fraudulent transactions. New filings from the U.S. Office of the Comptroller of the Currency (OCC) detail a consent order with ex-Wells Fargo employee Bathia Greene, […]

The post Wells Fargo Employee Sells Customers’ Personal Information, Triggering $688,000 in Fraudulent Transactions: US Banking Regulator appeared first on The Daily Hodl.

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‘Bank to the Stars’ Facing $770,000,000 Lawsuit for Allegedly Aiding Ponzi Scheme, Ignoring Glaring Red Flags: Report

‘Bank to the Stars’ Facing 0,000,000 Lawsuit for Allegedly Aiding Ponzi Scheme, Ignoring Glaring Red Flags: Report

A lender known as the “bank to the stars” is being sued for $770 million for allegedly aiding and abetting a Hollywood Ponzi scheme. Plaintiffs for the lawsuit accuse the Los Angeles-based lender City National Bank (CNB) of enabling a fraudulent scheme that bilked hundreds of investors, reports the Los Angeles Times. The lawsuit alleges […]

The post ‘Bank to the Stars’ Facing $770,000,000 Lawsuit for Allegedly Aiding Ponzi Scheme, Ignoring Glaring Red Flags: Report appeared first on The Daily Hodl.

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