Wells Fargo has confirmed a mass outage that has prevented customers from accessing their accounts.

Customers began reporting issues on Saturday morning, with the vast majority unable to log in, according to DownDetector.

Users on social media also reported issues with their account balances, transactions and Zelle transfers, with one frustrated user saying he struggled to get answers.

“Local branch no responses to phone. Mobile banking down. Customer service 57 minutes to get someone and they cannot answer any question.”

The bank told the user to send a direct message for assistance.

The New York City-based news station PIX11 says the bank responded to a request for comment, stating system maintenance is to blame.

“This morning our ATMs and online banking services experienced a brief outage as a result of planned maintenance.”

The bank says all services are now restored.

At time of publishing, DownDetector says some user reports “indicate possible problems at Wells Fargo” with dozens of customers reporting Login, Zelle and debit card issues over the last six hours.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The biggest bank in the US has begun blocking certain transactions from Zelle after hundreds of millions of dollars in scams were reportedly facilitated through the payments platform.

US banking giant JPMorgan Chase is now giving pop-ups to Zelle users who try to send money to people who appear to originate from social media, CNBC reports.

The bank warns that over half of all the Zelle scams are initiated through social media platforms.

Melissa Feldsher, JPMorgan’s head of payments and lending innovation, says that the bank doesn’t recommend using apps like Zelle for sending payments to people you aren’t familiar with.

“Many of the interactions that are happening over social media are between people that don’t know each other, and as a result, you are having interactions [that are] leading to money exchange between people that don’t know each other.

We think in instances that you are transacting and sending money to someone you don’t know, you should be using a product that has purchase protection, products that we offer at Chase, like debit cards and credit cards. We don’t think you should be using products like Zelle – the same way you wouldn’t use cash to send money to buy something from someone you’ve never met or goods you have never seen.”

A recent Senate report from last July found that $207 million worth of Zelle payments were disputed as scams from customers at JPMorgan Chase, Bank of America and Wells Fargo – the vast majority of which went unreimbursed.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

New Zelle restrictions roll out at JPMorgan Chase, Wells Fargo rejects a customer’s $60,000 plea for assistance, and a Bank of America customer battles an erroneous report of his demise.

JPMorgan Chase Rolls Out Zelle Restrictions

JPMorgan Chase has officially launched new payment restrictions designed to stop fraud on the peer-to-peer payments platform Zelle.

The bank says moving forward, it may at its discretion block any payment that appears to stem from social media contacts, online marketplaces and social media messaging apps, noting Zelle is designed for payments between friends, family and trusted associates.

Chase also says payments on Zelle are not covered by the firm’s purchase protection policy.

Wells Fargo Refuses To Reimburse $60,000 Theft

Banking giant Wells Fargo is reportedly refusing to cover the losses of a charitable organization that fell victim to a bank impostor scam.

The Struggle of Love Foundation, a Colorado nonprofit, lost $60,000 to a scammer posing as a Wells Fargo employee after its executive director received a fraudulent message about unauthorized account activity and was tricked into transferring funds to a new account.

According to CBS News, the group realized the deception after the money was gone and the scammer ceased communication, triggering failed attempts to recover the funds through the bank and the police.

Wells Fargo says it’s denying the claim because the organization actively participated in the transaction.

Bank of America Customer Battles Fatal Error

A Bank of America customer says he’s still dealing with the fallout after the government abruptly declared his demise.

Eighty-two year-old Ned Johnson has been mistakenly declared dead by Social Security, causing his benefits to be halted and leaving him entangled in a bureaucratic mess for over two months, reports ABC News.

Ned says BofA sent a condolence letter to his wife in February and began deducting Social Security benefits from his checking account as requested by the SSA.

“My advice would be, watch your bank account and be prepared to – if you get tagged with one of these issues – it’s going to take some time.

And you just have to be patient and persistent if you expect to get anywhere.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The Consumer Financial Protection Bureau (CFPB) has abruptly dropped a lawsuit accusing JPMorgan Chase, Wells Fargo, Bank of America and Zelle of failing to protect consumers from $870 million in losses on the Zelle network over seven years.

The lawsuit, filed in December, alleged Zelle’s parent company and the big banks often left victims of fraud on the instant payments platform to “fend for themselves.”

Today, The CFPB told the court that it’s dismissing the action with prejudice, and without an explanation.

The move follows the Trump administration’s efforts to weaken the agency by halting most of its operations, including investigations and rule-making.

The administration’s stance reflects a broader goal of cutting federal bureaucracy, with Trump labeling the agency as a source of “waste, fraud, and abuse” that has harmed financial institutions.

The CFPB’s lawsuit followed an investigation by the Senate’s Permanent Subcommittee on Investigations led by Democratic Senator Richard Blumenthal, who alleged Zelle and the banks routinely fail to adequately protect and reimburse consumers who use the popular network.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney