Bank Customers Complain of Direct Deposit Delays, CNN Says

By Denny Jacob

--Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo have complained of issues on Friday morning, CNN reported, citing the Downdetector online outage monitoring platform.

--The issue appears to be related to the Automated Clearing House, a network for processing transactions that's operated by the Federal Reserve Banks and the Electronic Payment Network, the report said, citing an industry source.

--A Chase spokesperson confirmed to CNN that some direct deposits haven't updated. None of the banks provided a comment, while the Federal Reserve nor the Treasury Department were immediately available for comment, according to the report.

Full story at https://www.cnn.com/2023/11/03/investing/bank-deposit-outage/index.html

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

November 03, 2023 13:44 ET (17:44 GMT)

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