Banks

$9,100 Drained From US Veteran’s Bank Account – Bank Rejects Responsibility, Demands Victim Pay $2,800 Negative Balance: Report

May 17, 2024 The Daily Hodl

bank

A customer at a US bank says $9,100 was mysteriously drained from his account even after he notified the lender about suspicious activity. Military veteran Roberto Rangel says USAA then refused to reimburse his account – and demanded he pay a negative balance of $2,800 that was triggered by the theft, reports the Fox-affiliated news […]

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Wall Street Giant Morgan Stanley Holds Over $269,000,000 in Spot Bitcoin ETFs, According to New SEC Filing

May 16, 2024 The Daily Hodl

Wall Street Giant Morgan Stanley Holds Over 9,000,000 in Spot Bitcoin ETFs, According to New SEC Filing

Banks

New documents reveal that financial services giant Morgan Stanley is holding hundreds of millions of dollars worth of spot market Bitcoin (BTC) exchange-traded funds (ETFs). According to data from market insights firm Fintel, the Wall Street giant recently disclosed its holdings to the regulatory agency, revealing that on May 15th, it purchased 4.27 million shares […]

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SEC custody rule made crypto regulation a ‘political football’ — Rep. Nickel

May 16, 2024 Coin Telegraph

Banks

The SEC’s proposed crypto custody rule and its “hostility” to the industry isn’t in Joe Biden’s “best interests,” Representative Wiley Nickel told Gary Gensler.

The United States securities regulator has turned crypto regulation into a “political football,” and its “open hostility” isn’t helping President Joe Biden, says Representative Wiley Nickel.

In a May 15 letter to Securities and Exchange Commission Chair Gary Gensler, Nickel, a Democrat, claimed the regulator ran contrary to its mission to protect investors and breached its authority in trying to pass the controversial Staff Accounting Bulletin 121, or SAB 121.

SAB 121 is a proposed rule mandating that SEC-reporting entities custodying crypto must record those holdings as liabilities on their balance sheets.

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Bank Employee Attacks Hundreds of Accounts, Sells Customers’ Payment and Personal Data in Insider Scheme: US Justice Department

May 15, 2024 The Daily Hodl

bank

An employee at a US bank repeatedly stole and sold customer data in a lucrative insider scheme, according to the US Justice Department. The United States Attorney’s Office for the Eastern District of Pennsylvania says it’s indicting California resident Kalien Frazier with six counts of wire fraud and one count of aggravated identity theft. Prosecutors […]

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Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Deutsche Bank joins Singapore’s asset tokenization project

May 14, 2024 Coin Telegraph

Banks

Deutsche Bank joined Singapore’s tokenization project soon after reiterating skepticism about transparency about the world’s largest stablecoin, Tether.

Update May 14, 12:35 UTC: This article has been updated to include quotes from Interop Labs CEO Sergey Gorbunov

Deutsche Bank, a German multinational investment bank, is collaborating with Singapore's central bank on asset tokenization.

Deutsche Bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian, which focuses on asset tokenization in wholesale funding markets and decentralized finance (DeFi) applications.

Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Billion-Dollar Bank Sued After Revealing Massive Data Breach Affecting Thousands of Customers, Exposing Account Details, Social Security Numbers and Medical Information: Report

May 13, 2024 The Daily Hodl

bank

A US lender is facing separate class action lawsuits over a security incident that exposed thousands of customers’ personal identifiable information (PII). Plaintiffs for the lawsuits say Centennial Bank suffered a data breach in April 2023 – but they allege the lender only notified affected customers that their PII was stolen a full year later, […]

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Billion-Dollar Bank Prepares for $450,000,000 Fine From US Government for Failing To Effectively Detect, Report, and Respond to Suspicious Activity

May 13, 2024 The Daily Hodl

Billion-Dollar Bank Prepares for 0,000,000 Fine From US Government for Failing To Effectively Detect, Report, and Respond to Suspicious Activity

AML

Banking giant Toronto Dominion (TD) is preparing to pay nearly half a billion dollars in penalties over an inadequate anti-money laundering (AML) program. In an announcement, TD says it has set aside an initial provision of $450 million to pay the US government over an AML program that was “insufficient to effectively monitor, detect, report, […]

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$81,000 Drained From Wells Fargo Account, Sent To Citibank – Victim Says She Received No Alerts, No Care, No Compensation

May 12, 2024 The Daily Hodl

bank

A woman who discovered tens of thousands of dollars missing from her Wells Fargo account says the financial giant is failing to protect its customers. The victim, who wants to remain anonymous to protect her identity, says thieves looted more than $81,000 from her account via electronic transfers, reports FOX News Memphis. The woman says […]

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Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Wells Fargo Employee Sanctioned After Allegedly Stealing Funds From Customers, Refusing To Cooperate With Investigation

May 11, 2024 The Daily Hodl

bank

The Financial Industry Regulatory Authority (FINRA) is barring a former Wells Fargo broker who’s accused of stealing funds from clients. In a letter of acceptance, waiver and consent (AWC), the regulator says ex-Well Fargo employee Andrew J. Egber violated two FINRA rules when he deliberately ignored requests to cooperate in an investigation. Last month, Wells Fargo […]

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Peter Schiff Claims Bitcoin Superpower Status Will Make America weaker

Banking Giant JPMorgan Chase Holds $760,000 in Spot Bitcoin ETFs: New SEC Filing

May 11, 2024 The Daily Hodl

bank

The biggest bank in the US, JPMorgan Chase, says it now holds about $760,000 in spot Bitcoin ETFs on behalf of its clients. In a new Form F13 filing, which requires institutional investment managers to disclose their holdings, JPMorgan says the exposure is spread across BlackRock’s iShares Bitcoin Trust (IBIT), the ProShares Bitcoin Strategy ETF […]

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