Citibank Employee Transfers $166,000 To Himself After Gaining Unauthorized Access to 79-Year-Old Dementia Patient’s Account: Manhattan District Attorney

October 29, 2024 The Daily Hodl

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A former personal banker at Citibank has admitted to stealing a huge pile of cash from an elderly customer. According to the office of the Manhattan District Attorney, 35-year-old Juan Velez stole tens of thousands of dollars from a 79-year-old customer over a span of 12 months. “According to court documents, statements made on the […]

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$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

JPMorgan Chase Suing Customer Who Allegedly Pulled $290,939 From Bank Using Illegal ATM ‘Glitch’: Report

October 28, 2024 The Daily Hodl

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JPMorgan Chase is now taking legal action against customers who extracted money from the bank’s ATMs using an illicit banking “glitch.” The bank is suing people who allegedly pulled thousands of dollars from the banks’ ATMs over the summer using a check fraud scheme that went viral. The scheme centers on depositing a fake check […]

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$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

JPMorgan Chase, Wells Fargo and Bank of America Refuse To Define ‘Unauthorized Transaction’ As Customers Lose $320,000,000 To Scams on Zelle: Report

October 26, 2024 The Daily Hodl

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JPMorgan Chase, Bank of America and Wells Fargo are among six US banks that have not defined what an unauthorized transaction is, despite the term’s critical role in determining whether fraud victims will be reimbursed, according to a new report. The three big banks, along with Capital One, U.S. Bank and Truist, have released no […]

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JPMorgan Chase, Citi Lose $939,399 As Insiders Steal Cash, Sell Customers’ Sensitive Data: US Bank Regulator

October 26, 2024 The Daily Hodl

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A US regulator is accusing three bank employees of triggering nearly $1 million in losses at JPMorgan Chase and Citi. The Office of the Comptroller of the Currency (OCC) says Tanya Jazmin Cortez sold confidential customer information to a third party for cash while working as a Citi bank teller in California. Cortez is accused […]

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JPMorgan Chase Details Election ‘Playbook’ for Investors, Forecasts Wall Street’s Response To Trump, Harris Victories

October 25, 2024 The Daily Hodl

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Banking giant JPMorgan Chase just released its US election playbook for investors. The bank’s strategists say “Trump trade” dynamics are clearly playing out over the last couple of weeks, alongside former President Donald Trump’s surge in betting markets. “Small- and mid-cap stocks have outperformed their large-cap peers on hopes of lower taxation and deregulation. U.S. […]

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FDIC Warns Customers Holding $7,100,000 in Uninsured Deposits After Sudden Bank Failure

October 25, 2024 The Daily Hodl

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The Federal Deposit Insurance Corporation (FDIC) says large customers at a recently shut down bank could collectively lose millions of dollars in uninsured deposits. The banking regulator says at least $7.1 million at First National Bank of Lindsay in Oklahoma was uninsured, held in accounts that exceed the agency’s $250,000 insurance coverage limit. For now, […]

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Bitcoin bull Michael Saylor reverses remarks on self-custody after backlash

October 24, 2024 Coin Telegraph

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“I support self-custody for those willing and able,” Saylor said in a new post after encouraging "big bank" custody in an interview earlier this week.

MicroStrategy founder Michael Saylor backpedaled on his comment that big banks should take custody of Bitcoin following a torrent of backlash from the crypto community.

“I support self-custody for those willing and able, the right to self-custody for all, and freedom to choose the form of custody and custodian for individuals and institutions globally,” Saylor declared in a post on X on Oct. 23.

Saylor has been taking heat from the crypto community, including Ethereum co-founder Vitalik Buterin, after calling out “paranoid crypto-anarchists” in a recent interview.

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$109,000 Drained From 81 Year-Old’s Bank Account in Devastating Social Security Scam: Report

October 23, 2024 The Daily Hodl

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An 81 year-old woman says she’s lost her entire life savings to a Social Security scam. Washington, D.C.-based Gladys Baxley says she recently received a call from someone claiming to be with the Social Security Administration, reports the CBS-affiliated news station WUSA9. When the caller said Baxley’s Social Security number was in the hands of […]

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US bankers support Trump but expect Harris victory — American Banker

October 23, 2024 Coin Telegraph

2024 US Presidential elections

A survey of 191 bankers indicated heavy support for Trump’s cryptocurrency and taxation policies.

Professionals in the United States banking industry prefer presidential candidate and former US president Donald Trump by a small margin, according to recent survey data. But most expect to see his opponent, Vice President Kamala Harris, take the Oval Office in January.

American Banker publisher Arizent gathered survey data from 191 respondents working in the US banking industry and found that 59% — about 112 — believed that Harris is the frontrunner.

However, when asked whether a Trump or Harris administration would be better for the banking industry, 58% of the respondents said they’d be better off under Trump.

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Why Is Silver Soaring? A Financial Perspective Involving America’s Breaking Point

October 21, 2024 Bitcoin.com

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Porter Stansberry, financial editor and founder of Marketwise, believes that the rise of silver, which is experiencing a bull market, has deeper causes than just the increase in tech-related demand. He links the increase in the prices of this commodity with the upcoming destruction of America’s banking system, foretold by the movements of seasoned investors. […]

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