A grandmother with a terminal illness says an Australia-based bank should have been able to stop a scam as it unfolded in real time. Lyn Reads says she’s a victim of a scammer who stole about $50,000 AUD – worth about $32,000 USD – from her bank account, reports the Australian Broadcasting Corporation. Reads initially received […]
The post Bank Refuses To Reimburse $32,000 Stolen From Grandma With Terminal Illness in Text Message Scam: Report appeared first on The Daily Hodl.
One of the largest banks in Australia says it may freeze and terminate customer accounts that engage in certain types of “unacceptable account conduct.” National Australia Bank says a new policy launching in November is designed to protect people from harm by automatically flagging customer transactions that include a long list of banned words in […]
The post Billion-Dollar Bank Says It May Freeze, Terminate Accounts Sending ‘Unacceptable’ Transactions – Here’s What It Means appeared first on The Daily Hodl.
A wave of customer complaints about frozen accounts at a popular US bank has reportedly triggered a review from the Better Business Bureau. For the second week in a row, a group of customers at the Walmart and TurboTax-linked Green Dot Bank have said they are completely unable to access their funds, reports NBC News. […]
The post Wave of Accounts Are Being Frozen at a Popular US Bank, Triggering ‘Influx of Complaints’: Report appeared first on The Daily Hodl.
Billions of dollars are flowing out of the traditional banking system as money market funds witness a wave of inflows. According to fresh stats from the Federal Reserve Economic Data (FRED) system, $48.81 billion in deposits exited American bank accounts from August 10th through the 16th. In the last year, a the total amount of […]
The post $48,810,000,000 in Deposits Exit US Banks in One Week As Money Market Funds Report Massive Inflows appeared first on The Daily Hodl.
Customers at a billion-dollar US bank say they have been unable to access their funds for days and weeks at a time. Green Dot Bank, which offers banking and debit card services to people who shop at Walmart, is accused of giving the runaround to a group of customers who are essentially locked out of […]
The post A US Bank Is Denying Access To Funds And Freezing Accounts, Leaving Customers in Dire Financial Straits: Report appeared first on The Daily Hodl.
America’s biggest banks are taking hits to their bottom line as soaring interest rates cause billions of dollars in loans to fall apart. JPMorgan Chase, Capital One and others lost a combined $18.9 billion in the second quarter of this year due to soured loans, reports the Financial Times. The banks are facing “charge-offs,” or […]
The post US Banks Suffer $18,900,000,000 in Losses As JPMorgan Chase and Capital One Take Big Hits From Bad Loans: Report appeared first on The Daily Hodl.
The credit ratings agency Moody’s just issued a fresh warning on the US banking system. In new research note, Moody’s says it’s cutting the ratings of 10 regional banks, and is considering whether to downgrade a number of big lenders including Bank of New York Mellon, US Bancorp, State Street, Truist Financial, Cullen/Frost Bankers and […]
The post US Banks Facing ‘Significant Risk’ of Deposit Flight As Profit Margins Narrow, Warns Top Ratings Agency appeared first on The Daily Hodl.
America’s biggest banks are preparing to pay billions of dollars to the Federal Deposit Insurance Corporation to replenish an insurance fund that’s propping up the system. JPMorgan, Wells Fargo, Bank of America, Goldman Sachs, Morgan Stanley, PNC Financial Services Group and Citigroup will collectively pay $8.2 billion to restore the emergency fund, reports Reuters. JPMorgan […]
The post JPMorgan Owes $3,000,000,000 To US Government After Banking Crisis Drains Emergency Fund: Report appeared first on The Daily Hodl.
America’s biggest banks are witnessing a contraction of customer deposits as another regional bank is forced to close its doors. The Federal Deposit Insurance Corporation (FDIC) says Heartland Tri-State Bank of Elkhart, Kansas, failed on July 28th. All customer deposits have been transferred to Dream First Bank, National Association (N.A.), also based in Kansas. The […]
The post $262,000,000,000 Exits JPMorgan, Wells Fargo, BofA and Citi in One Year As Government Reveals Collapse of Another US Bank appeared first on The Daily Hodl.
Americans are increasingly turning to local news outlets after their hard-earned cash is frozen and denied. According to a new report from CBS News, a rash of banking customers are reaching out and detailing months and sometimes years-long battles to gain access to their own money. Once the major news outlet gets involved and begins […]
The post Americans Are Battling Banks After Accounts Are Frozen, Access to Hard-Earned Cash Is Denied: Report appeared first on The Daily Hodl.
