News with the tag "US Banks"

A billion-dollar bank is warning customers after a cybersecurity breach affecting thousands of customers. In a filing with the Office of the Maine Attorney General, Western Alliance Bank says an unauthorized actor exploited a vulnerability in a third-party file transfer software system it uses. The ...

Wells Fargo and two of its business partners are set to fork out millions of dollars to individuals and businesses after agreeing to settle a class action lawsuit that alleged sales calls to potential customers of the fourth-largest US bank were secretly recorded for nearly a decade. According to th...

The rising tide of stablecoin adoption has prompted a significant response from traditional financial institutions. Global banks and fintechs are launching their own stablecoins, capitalizing on the increasing adoption and favorable regulatory environment. Joining an established list of payment prov...

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 com...

A billion-dollar bank is now being sued after more than $200,000 vanished from a dead man’s account, according to a new report. The estate of the late John Lindy Steward is suing FirstBank for allegedly refusing to reimburse a series of unauthorized transfers from his account – despite the bank bein...

A Texas couple says Wells Fargo is refusing to reimburse after $40,000 was stolen from their business account despite urgent warnings of fraudulent activity. Jose Vasquez tells FOX 26 that on January 27, he and his wife Amanda noticed someone had attempted to set up a direct transfer for $20,000. He...

JPMorgan Chase is reportedly refusing to cover losses for a customer who lost her life savings to a fraudster. Former policewoman Courtney White says she lost $87,000 to a thief who impersonated her and made withdrawals from her JPMorgan Chase account to the tune of thousands of dollars per day, rep...

Investing legend Warren Buffett has built a record $334 billion cash position at Berkshire Hathaway. The firm’s new fourth-quarter and yearly earnings reports show Buffett continues to be a net seller of assets, with cash on hand rising from $325 billion at the end of Q3. The firm’s Q4 sales include...

JPMorgan Chase CEO Jamie Dimon just sold a massive amount of his company’s stock. New SEC filings show Dimon sold a total of 866,361 shares at a price of $269.83 on Thursday, worth a whopping $233.77 million. According to the SEC Form 4 filing , the shares sold are attributed to various entities inc...

A JPMorgan Chase banker has allegedly abused her position as an insider at the banking giant to steal nearly $1 million. According to a Department of Justice indictment , Franchesca Calagui knowingly cashed hundreds of forged U.S. Treasury checks while working as a teller at JPMorgan Chase to enrich...