Leading banks and credit card giants are reportedly now participating in a tokenized deposits pilot project launched by industry body UK Finance. According to a new report by Bloomberg, companies that include Barclays, Citigroup, Mastercard and Visa are teaming up for the effort. The project aims to create a commercial banking system for tokenized deposits […]
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The Financial Industry Regulatory Authority (FINRA) is ordering JPMorgan Chase to pay hundreds of thousands of dollars in damages to a former employee who accused the bank of defamation. Former JPMorgan Securities (JPMS) financial advisor Michael C. Nolan says the trillion-dollar lender damaged his reputation in a Form U5 filing to FINRA after he left […]
The post JPMorgan Chase To Pay $250,000 for Defaming Former Employee As Regulator Orders Bank To Eliminate Series of Allegations appeared first on The Daily Hodl.
Over $1.4 million in settlement cash is about to be handed out to clients at a large US bank after a data breach compromised their privacy and security. Webster Bank and several firms linked with it were accused of failing to protect the personally identifiable information of its customers during a data leak between November […]
The post $1,430,207 To Be Handed Out After Billion-Dollar Bank Suffers Data Breach – Here’s Who Qualifies As Claims Deadline Approaches appeared first on The Daily Hodl.
New York Attorney General Letitia James says one of America’s biggest banks does nothing to stop fraudulent wire transfers even after the bank’s own customers call to report fraud and freeze their accounts. Deep dives on the AG’s accusations in her lawsuit against Citibank are emerging, highlighting allegations that Citibank makes “no effort” to alert […]
The post Citibank Allows Fraudulent Wire Transfers To Proceed After Customers Report Scams, Ask Bank To Freeze Accounts: New York Attorney General appeared first on The Daily Hodl.
Banking titan Wells Fargo says it suffered a data breach that exposed sensitive information on at least two of its customers. In a letter, the California-based financial giant says personal information and mortgage account numbers were exposed. Wells Fargo says one of its employees is responsible for the data breach, although it’s not clear how or […]
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The head of the largest bank in the US says he’s concerned about “significant uncertain forces” brewing on the global stage. In the firm’s first-quarter earnings results, JPMorgan CEO Jamie Dimon says persistent inflation and new, violent conflicts are his two top concerns as Q2 begins. “Many economic indicators continue to be favorable. However, looking […]
The post JPMorgan Chase CEO Warns Inflation, Terrible Wars and Violence Are ‘Significant Uncertain Forces’ in New Outlook appeared first on The Daily Hodl.
A billion-dollar bank in the US is reportedly facing a potential class-action lawsuit for the second time in about three years over allegedly hammering customers with “crippling” overdraft fees. Customers LaNita Criswell and LaSheena Neal say Frost Bank’s history of imposing $35 overdraft fees on transactions that do not exceed account balances is in breach […]
The post Billion-Dollar Bank Accused of Charging ‘Crippling’ Overdraft Fees As Customers Launch $5,000,000 Lawsuit: Report appeared first on The Daily Hodl.
Standard & Poors (S&P) just downgraded five more regional banks as pain in the sector continues to spread. In a new outlook report, S&P says it’s downgrading First Commonwealth Financial Corp., M&T Bank Corp., Synovus Financial Corp., Trustmark Corp. and Valley National Bancorp. All five banks were downgraded to “negative” from “stable.” S&P says the […]
The post S&P Global Downgrades Five US Banks, Warns Lenders Hold Billions of Dollars in Loans That May Face ‘Material Deterioration’ appeared first on The Daily Hodl.
An elderly woman who lost millions of dollars to scammers is hitting Bank of America (BofA) with a lawsuit over allegations of negligence, breach of contract and violation of federal law. Lynne Bucklin, a 67 year-old Florida resident, says BofA failed to adequately protect her from a scheme that drained $2 million from her accounts, […]
The post $2,000,000 Stolen From Bank of America Account in Devastating Scam, Triggering Lawsuit for Alleged Negligence, Breach of Contract and Violation of Federal Law: Report appeared first on The Daily Hodl.
A 70-year-old woman says JPMorgan Chase isn’t taking responsibility after her account was gutted by cyber thieves. Jodene Danials says $4,500 vanished from her Chase bank account after hackers got access to her Zelle account, Click2Houston reports. Danials says in June of last year, within a matter of hours, her Chase account was drained of […]
The post $4,500 Drained From JPMorgan Chase Account in Matter of Hours – Now the Bank Blames Its Own Customer and Refuses To Reimburse: Report appeared first on The Daily Hodl.
