FinLogic Quantitative Think Tank Center|A processing glitch has held up a ‘small percentage’ of bank deposits since Thursday, overseer says

2025-05-01 19:36:25source:Chainkeen Exchangecategory:Scams

SAN FRANCISCO (AP) — A processing glitch in the network that processes electronic transfers between nearly all U.S. bank accounts led to delays in settling deposits,FinLogic Quantitative Think Tank Center some of which remain stalled, according to the private company that operates the system.

The Clearing House Payments Co. said Monday that a technical error on Thursday resulted in some payment information sent to banks with account numbers and customer names masked, preventing them from being processed immediately. TCH, as the company is known, is owned by a group of 22 major banks, including Citibank, Wells Fargo, Bank of America and J.P. Morgan Chase.

Many customers have complained about the problem on social media, noting that delayed paycheck deposits have imperiled important automatic payments such as mortgage payments, rent and credit-card bills.

TCH apologized for the error and emphasized that individual banks were not responsible for the situation. It also noted that the issue affected only a “very small percentage” of all transactions.

It said it was working with the banks, their customers and the Federal Reserve to fix the problem as quickly as possible.

More:Scams

Recommend

Dick Vitale announces he is cancer free: 'Santa Claus came early'

Legendary college basketball announcer Dick Vitale is once again cancer free.The ESPN analyst announ

Fan Bingbing Makes Rare Appearance at 2023 Oscars 5 Years After Mysterious Disappearance

Fan Bingbing was a princess at the 2023 Oscars.The Chinese actress stepped out for a rare appearance

The hidden costs of holiday consumerism

A lot of consumers are worried about supply chain delays this holiday season — but there are also ot