customers’

JPMorgan Chase, Bank of America and Wells Fargo Customers Lose $456,000,000 in One Year To ‘Dirty Little Secret Called Zelle’: Senate Committee Chairman – The Daily Hodl

JPMorgan Chase, Bank of America and Wells Fargo are failing to protect customers from hundreds of millions of dollars in scams and fraud per year, according to a US Senate panel. At a hearing held by the Permanent Subcommittee on Investigations, Democratic Senator and Chairman Richard Blumenthal said the banking giants’ customers submitted claims to recover $456 …

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Santander hit by massive hack — “all staff” and 30 million customers affected

The recent data breach at Santander Bank affected not just millions of customers, but also all of its staff, new reports have claimed. The banking giant recently issued a breach notification letter saying following a supply chain attack, an unauthorized third party had accessed a database with sensitive customer information. It was later discovered that …

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$267,000,000,000 Bank To Abolish Cash, Warns Customers To Prepare for Massive Digital Overhaul

One of the largest banks in Australia is rolling out a plan to terminate cash and checking services. In an update on its website, Macquarie Bank, which has $267 billion in assets, tells customers that a digital-centered banking experience will begin in November. “In case you missed it, we’re phasing out our cash and cheque services for …

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Ring Customers Get $5.6 Million In Refunds In Privacy Settlement

https://apnews.com/article/ring-doorbell-camera-settlement-ftc-payments-658a3bae14c4744cf449932099dc4404 https://www.ftc.gov/news-events/news/press-releases/2024/04/ftc-sends-refunds-ring-customers-stemming-2023-settlement-over-charges-company-failed-block?utm_source=govdelivery https://www.ftc.gov/enforcement/recent-ftc-cases-resulting-refunds/refund-programs-frequently-asked-questions In a 2023 complaint, the FTC accused the doorbell camera and home security provider of allowing its employees and contractors to access customers’ private videos. Ring allegedly used such footage to train algorithms without consent, among other purposes. Ring was also charged with failing to implement key security protections, which enabled hackers to …

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Banks And Credit Card Companies To Stop Lending, As New Law Shocks Customers

A lawsuit against major credit card companies, like Visa and Mastercard, has sent shockwaves through the financial industry. Interchange fees, which are transaction charges merchants must pay every time a customer uses a credit or debit card, have been a contentious issue in the retail industry. Retailers have argued that these fees are excessively high, …

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Target Gives HUGE Warning, Citing That Customers Are “Out Of Money”

Target lowered its profit forecast for the year, citing a concerning trend: consumers are spending less. The retail giant known for its bullseye logo and aisles overflowing with everything from groceries to apparel, sent a tremor through the retail industry with its recent earnings report. The biggest retailers in the country has revealed the challenging …

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Elon pushes FSD option on customers at $199 per month.

Tesla CEO Elon Musk sent an email to employees on Monday informing them they have to show customers how to use “FSD” before completing a delivery in North America. “I know this will slow down the delivery process, but it is nonetheless a hard requirement,” Musk wrote in the email. Tesla is trying to avoid …

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Bentley delays ambitious EV rollout after suddenly realizing customers don’t want electric cars.

Bentley Motors is pushing back its plans to transition to all-electric vehicles by a couple of years amid changes in market conditions and a delay in its first EV. CEO Adrian Hallmark said the carmaker remains committed to carbon neutrality and exclusively offering EVs, but it now plans to continue offering plug-in hybrids past 2030. …

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900k+ customers in California have no power…

https://poweroutage.us/area/state/california A Hurricane-Force Wind Warning Is Issued As A Monster Storm Begins To Dump 8 Trillion Gallons Of Rain On California Okay, this is starting to get really weird.  First, we had a “thousand year storm” which caused catastrophic flooding in San Diego.  Subsequently, a “Pineapple Express” storm absolutely soaked the entire state on Wednesday …

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Customers discover ‘fatal’ design flaw in Tesla’s $80,000 Cybertruck

It can chop your fingers off! Customers discover ‘fatal’ design flaw in Tesla’s $80,000 Cybertruck that could lead to passengers’ fingers being CHOPPED OFF – and it’s been named the ‘guillotine effect’ https://www.dailymail.co.uk/sciencetech/…ffect.html New owners of Tesla’s sleek, stainless-steel Cybertruck may want to watch their fingers closing the electric vehicles doors and its front-facing trunk. …

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Dunkin’ workers pull guns on customers asking for manager.

A 41-year-old man and his girlfriend were ordering doughnuts, but the woman said an employee was acting “rude” and she asked to speak to the manager, police said in a Dec. 18 news release. The worker responded that he was the manager, using explicit language, according to police. When the couple drove toward the window, …

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Walmart Accused of Faking Meat Weights, Customers Warned to Verify Purchases

In a startling discovery, Walmart is now under scrutiny for allegedly misrepresenting the weight of the meat it sells. Concerns have been raised about the possibility of customers being charged for more than the actual weight of the products they purchase. The issue was brought to light when vigilant shoppers noticed discrepancies between the labeled …

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Thousands of HSBC customers in UK unable to access online banking services

https://twitter.com/HSBC_UK/status/1727971038628020557 Thousands of HSBC customers in the UK have reported that they are unable to access mobile banking. Downdetector, which tracks websites, showed more than 3,900 people had reported the banking app on their device was not functioning. https://www.msn.com/en-xl/news/other/hsbc-mobile-banking-down-for-thousands-across-uk/ar-AA1ksiM7

Now YouTube hikes its prices for millions of customers: Premium family plan jumps up by 30% – the biggest price increase in YEARS

YouTube has become the latest platform to increase its prices, following in the footsteps of Netflix, Apple TV+ and Disney+. The price of the YouTube Premium family plan, which allows six accounts to use the same subscription, will increase by £2 from £17.99 to £19.99 in the UK. Meanwhile, in the US and Canada, costs …

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Apple TV customers threaten to CANCEL their subscriptions as prices are hiked – as furious customers say it ‘doesn’t have enough content’ to justify the increase

Furious Apple TV customers have threatened to cancel their subscriptions, following the news that the company is increasing prices by up to 40 per cent. The change will bring the monthly cost from £6.99 to £8.99 in the UK, and from $6.99 to $9.99 in the US. Some customers say they are willing to pay …

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[New Republic] I Worked at Capital One for Five Years. This Is How We Justified Piling Debt on Poor Customers.

by SurveillanceBalloon I recently read this article written by a former Capital One product manager, and thought this subreddit might find it interesting: https://newrepublic.com/article/155212/worked-capital-one-five-years-justified-piling-debt-poor-customers It’s a pretty quick read, but has a few interesting anecdotes and explanations of things like Cap1’s proactive increase strategy with the goal of getting users to carry balances and pay …

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‘Oops’: What FTX staff wrote on spreadsheet showing $20billion in losses as co-founder Gary Wang testifies at Sam Bankman-Fried trial the company had been stealing its customers’ money for three years before it collapsed

FTX staff wrote ‘oops’ on a spreadsheet which showed it owed $20billion five months before it collapsed. A court in New York heard that Sam Bankman-Fried, the boss of the failed crypto exchange, ordered his staff to prepare the document in July 2022 as investors demanded their money back. Crypto prices had tumbled and the …

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It’s Begun ! U.K Bank Machines Start Stealing Customers Cash – Banks Blame Machines

Thousands of NatWest customers have been plunged into the red and left with a ‘headache’ as money they deposited into their accounts disappeared. NatWest blamed an ‘ongoing incident with cash deposit machines’ for the blunder which left many out of pocket. A number of people took to social media site X, formerly Twitter, to complain …

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Customers in Australia are required to justify the reasons for their cash withdrawals.

TikToker pranks Aussie bank tellers over cash questions A TikTok comedian has taken on several Australian banks, filming their tellers asking what his reason is for withdrawing cash. In Australia, banks are required to report any cash transactions of $10,000 or more to a federal government tracking agency called AUSTRAC. The reason for this is …

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Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday

by Dismal-Jellyfish Source: https://www.reuters.com/article/idUSL6N39V0EO Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to make than $100 million in political campaign contributions before the 2022 U.S. midterm elections, federal prosecutors said on Monday. An amended indictment accused the 31-year-old former billionaire of directing two FTX executives to evade contribution limits by donating …

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Online banking issues, financial scams leave some customers in the dark when things go wrong

Last week, an unknown number of Wells Fargo customers were suddenly unable to access deposits in their bank accounts. Even as it sought to address the issue, which customers first began noticing on Aug. 3, Wells Fargo acknowledged a “limited” number of customers were still having issues 24 hours later, leaving some of them unable …

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Debit Balances in Customers’ Securities Margin Accounts increased by $37,058 million, or 5.75% from May to June–the biggest jump since December 2022. This implies that customers are borrowing more money from their brokers to buy securities on margin.

by Dismal-Jellyfish https://www.finra.org/rules-guidance/key-topics/margin-accounts/margin-statistics Source: https://www.finra.org/sites/default/files/2021-03/margin-statistics.xlsx Wut mean?: According to FINRA Rule 4521(d), FINRA member firms with customer margin accounts must report by the last business day of each month: Total debit balances in securities margin accounts. Total free credit balances in all cash and securities margin accounts. Debit Balances in Customers’ Securities Margin Accounts increased: …

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