The two largest banks in the US say they expect to lose a collective $4.5 billion from customers who are essentially unable to pay their bills. JPMorgan Chase says its net charge-offs, which are debts that the bank does not expect to receive, hit $2 billion in the first quarter of this year, reports Reuters. […]
The post JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As ‘Unrecoverable Debt’ Soars: Report appeared first on The Daily Hodl.
US regulators just announced the first bank failure of 2024. The FDIC says it has stepped in to protect $6 billion in assets and $4 billion in customer deposits at Philadelphia-based Republic Bank. The assets will be immediately handed over to Fulton Bank, a former rival that’s also located in Philadelphia. “Republic Bank’s 32 branches […]
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A Bank of America customer says he lost tens of thousands of dollars after bad actors found a way to hijack his account. California resident Jeff Drobman says the theft began when his phone abruptly came alive with multiple notifications from his Bank of America app, reports NBC Los Angeles. “I started to get notifications […]
The post $21,000 Drained From Bank of America Account As Customer Blasts Industry’s Push To Protect Trillions of Dollars appeared first on The Daily Hodl.
New numbers show two of the largest banks in the US are witnessing billions of dollars in deposit flight. Quarterly earnings data shows Citigroup’s deposits dropped from $1.3305 trillion in Q1 of 2023 to $1.3072 trillion in Q1 of this year – a reduction of $23.3 billion in a span of 12 months. Meanwhile, deposits […]
The post $38,400,000,000 in Deposit Flight Hits Wells Fargo and Citigroup in One Year As JPMorgan Chase CEO Issues Warning To Federal Reserve appeared first on The Daily Hodl.
JPMorgan Chase is launching a new business that will allow marketers and advertisers to target customers based on their spending data. To do that, the banking giant will be providing companies with the data it collects from its 80 million clients. The new venture, called Chase Media Solutions, aims to be a “key conduit for […]
The post JPMorgan Chase To Sell Financial Data of 80,000,000 Clients As Trillion-Dollar Bank Launches Media Platform 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.
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.
U.S. Bank and Oppenheimer & Co will pay a total of $7 million to the Commodity Futures Trading Commission (CFTC) in a federal crackdown on off-channel communications and improper record keeping. The CFTC has jointly ordered both U.S. Bank and Oppenheimer & Co, an introducing broker, to pay $6 million and $1 million in civil […]
The post U.S. Bank and Oppenheimer Paying $7,000,000 Fine, Admit To Using Unofficial Communications Channels in Federal Crackdown appeared first on The Daily Hodl.
An Atlanta woman says a popular US bank abruptly froze her account and refused to let her cash out, leaving her to fend for herself. Shelley Camp says Green Dot locked her out of her bank account out of nowhere for “unusual activity,” reports the ABC-affiliated news station WSB-TV. Camp says she was out of […]
The post Billion-Dollar Bank Abruptly Freezes Woman’s Account and Refuses To Return Funds, Forcing Her To Rely on Family and Friends for Survival: Report appeared first on The Daily Hodl.
Police say two women just used their roommate’s dead body to withdraw cash from the deceased victim’s U.S. Bank account. Karen Casbohm and Loreen Feralo allegedly found their 80 year-old roommate Douglas Layman dead in their house on Monday and decided to drive his body to the bank, reports Fox 8 News in Cleveland, Ohio. […]
The post Dead Body Used to Withdraw Cash at U.S. Bank, Say Police – Here’s a Look at the Allegations appeared first on The Daily Hodl.
