Billion-Dollar Bank Paying $700,000 Penalty for Illegally Freezing Accounts, Transferring Customers’ Cash to Debt Collectors

April 29, 2024 The Daily Hodl

Account

New York’s Attorney General is penalizing a national bank for freezing its customers’ accounts and handing the funds over to debt collectors. New York AG Letitia James says an investigation by the Office of the Attorney General (OAG) found that South Dakota-based Pathward Bank illegally sent debt collectors tens of thousands of dollars from New Yorkers’ […]

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$30,000 in JPMorgan Chase Account Disappears in One Day, Customer Says Bank’s Refusal To Reimburse Is Blowing His Mind: Report

April 21, 2024 The Daily Hodl

bank

A JPMorgan Chase customer in Oregon says his nest egg vanished in one day after thieves siphoned $30,000 from his account. Alan Roberts says someone made a flurry of unauthorized transfers from his Chase business account on March 18th, reports the NBC-affiliated KGW News. According to Alan, his funds were diverted to a number of […]

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$38,400,000,000 in Deposit Flight Hits Wells Fargo and Citigroup in One Year As JPMorgan Chase CEO Issues Warning To Federal Reserve

April 20, 2024 The Daily Hodl

bank

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 […]

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JPMorgan Chase To Pay $250,000 for Defaming Former Employee As Regulator Orders Bank To Eliminate Series of Allegations

April 14, 2024 The Daily Hodl

bank

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 […]

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$1,430,207 To Be Handed Out After Billion-Dollar Bank Suffers Data Breach – Here’s Who Qualifies As Claims Deadline Approaches

April 14, 2024 The Daily Hodl

bank

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 […]

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Citibank Allows Fraudulent Wire Transfers To Proceed After Customers Report Scams, Ask Bank To Freeze Accounts: New York Attorney General

April 13, 2024 The Daily Hodl

bank

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 […]

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Wells Fargo Says It Has Suffered Data Breach, Blames Employee for Exposing Personal Information on Pair of Customers

April 13, 2024 The Daily Hodl

bank

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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JPMorgan Chase To Sell Financial Data of 80,000,000 Clients As Trillion-Dollar Bank Launches Media Platform

April 13, 2024 The Daily Hodl

Chase

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 […]

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Billion-Dollar Bank Accused of Charging ‘Crippling’ Overdraft Fees As Customers Launch $5,000,000 Lawsuit: Report

April 12, 2024 The Daily Hodl

bank

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 […]

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S&P Global Downgrades Five US Banks, Warns Lenders Hold Billions of Dollars in Loans That May Face ‘Material Deterioration’

April 7, 2024 The Daily Hodl

bank

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 […]

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U.S banks