Investors Move $2,450,000,000,000 in Push for Easy Money As Wells Fargo, Bank of America and Citi Fight To Defend Their Deposit Base: Report

July 20, 2024 The Daily Hodl

bank

Americans are increasingly moving their hard-earned cash into higher-yielding financial products as US banks battle to stop deposit flight. People have increasingly grown weary of the low interest on deposits offered by banks and have now poured a record $6.15 trillion into money market funds, reports the Financial Times, citing data from the Investment Company […]

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SEC Slaps Digital Currency Group With ,000,000 Fine, Claims Crypto Venture Firm Misled Investors

SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

Billion-Dollar Bank To Pay $20,000,000 Fine After Hitting Customers With ‘Illegal, Worthless Fees’ and Illegally Triggering Asset Seizures: CFPB

July 14, 2024 The Daily Hodl

bank

The Consumer Financial Protection Bureau (CFPB) is penalizing a US bank for predatory loan practices and illegal repossession of people’s assets. The CFPB says that Fifth Third Bank harmed 35,000 customers, including roughly 1,000 people who had their cars repossessed. According to the agency, the bank forced customers who already had car insurance to pay […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

$40,000 Drained From JPMorgan Chase Account by Malicious ‘Ghost’ As Bank Rejects Customer’s Plea for Reimbursement: Report

July 14, 2024 The Daily Hodl

bank

A JPMorgan Chase customer says he’s struggled to pick up the pieces after a mysterious malicious actor drained $40,000 from his business account. Jeff Benach says his Chicago housing development business recently hired a Canadian company and ordered some renderings, reports ABC Chicago. Although he didn’t like the results, Benach says he offered to pay […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

JPMorgan Chase, Wells Fargo Suffer $3,500,000,000 in Losses As US Banks Report Massive Surge in Bad Debt

July 13, 2024 The Daily Hodl

Chase

Two of the largest banks in the US are declaring a loss on a staggering $3.5 billion in debts that customers can’t pay back. JPMorgan Chase says its net charge-offs, which are delinquent debts that banks do not expect to receive, hit $2.2 billion in the second quarter of the year. That’s a $200 million […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

Millions of Americans’ Personal Data Allegedly Exposed As Notorious Hacker Hits Bank, Steals Sensitive Info From Multiple Financial Firms

July 6, 2024 The Daily Hodl

Affirm

A notorious hacker has successfully breached a major US bank, stealing sensitive customer information from a long list of financial firms in the process. The Tennessee-based lender Evolve Bank & Trust says the Russian-linked ransomware gang LockBit has hacked its system and appears to have stolen most of its personal banking customers’ names, Social Security […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

US Banks Dumping Exposure To $2,500,000,000,000 Market Before ‘Inevitable Losses’ Hammer Balance Sheets: Report

June 30, 2024 The Daily Hodl

Banks

Some of the biggest banks in America are quietly selling their exposure to a troubled sector of the US economy, according to a new report. The banks are beginning to dump commercial real estate loans in a push to “cut their losses,” reports the New York Times. The Times points to Goldman Sachs and Citigroup, […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

JPMorgan Chase, Bank of America and Wells Fargo Accounts Used in Alleged $92,000,000 Money Laundering Scheme: Report

June 29, 2024 The Daily Hodl

bank

An alleged $92 million money laundering scheme went “right through” three of the largest banks in the US, according to a new report. A group of alleged drug runners and money launderers are accused of depositing hundreds of thousands of dollars in illicit funds into accounts at JPMorgan Chase, Bank of America and Wells Fargo, […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

Federal Reserve Breached, Claim Hackers, Allegedly Exposing 33 Terabytes of ‘Juicy Information Containing Americans’ Banking Secrets’

June 25, 2024 The Daily Hodl

bank

An infamous Russian hacker group claims it has successfully breached the U.S. Federal Reserve. Security researchers say the ransomware group LockBit claims it has accessed 33 terabytes of “juicy banking information containing Americans’ banking secrets.” The group says it’s holding the data hostage, demanding the Federal Reserve pay a bounty to keep the information under wraps. […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

Bank of America Customers’ Information Illegally Accessed and Sold As Renegade Staffer Sparks Fraudulent Withdrawals: US Regulator

June 22, 2024 The Daily Hodl

Bank of America

A US banking regulator says a Bank of America employee has illegally accessed customer accounts, leading to tens of thousands of dollars in losses. The Office of the Comptroller of the Currency (OCC) alleges Manuel Alejandro Ramirez Perez engaged in unsafe or unsound practices and violated laws while working as a relationship banker and credit solutions […]

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SEC Slaps Digital Currency Group With $38,000,000 Fine, Claims Crypto Venture Firm Misled Investors

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

June 22, 2024 The Daily Hodl

bank

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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U.S. Bank