Bank offers to reimburse St. Augustine couple $42K after I-TEAM exposes bank impersonation scam
Read full article: Bank offers to reimburse St. Augustine couple $42K after I-TEAM exposes bank impersonation scamChase Bank says it will reimburse a St. Augustine couple who lost $42,000 in a sophisticated impersonation scam, following new public records obtained by the News4JAX I-TEAM, including audio recordings of an imposter posing as the couple on the phone with the bank.
A local couple lost $42K in an impersonation scam. Detective says โno wayโ bank should have authorized the transfers
Read full article: A local couple lost $42K in an impersonation scam. Detective says โno wayโ bank should have authorized the transfersA St. Augustine couple, Tom and Ann Hill, lost $42,000 in a sophisticated impersonation scam despite following their bank's guidance. The scam began with a text message that led to a call from a scammer posing as a Chase representative, resulting in unauthorized wire transfers. Despite notifying the bank and a fraud alert being placed on their account, the funds were transferred using a spoofed phone number and a one-time passcode. Chase denied the Hills' claim, stating the transfers were authorized, while a detective highlighted the bank's failure to prevent the fraudulent transactions.
Unexplained outage at Chase Bank leads to interruptions at Zelle payment network
Read full article: Unexplained outage at Chase Bank leads to interruptions at Zelle payment networkAn unexplained outage at Chase Bank led to interruptions for users of the Zelle payment network, who took to social media to complain.
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JPMorgan 1Q profit up sharply, helped by improving economy
Read full article: JPMorgan 1Q profit up sharply, helped by improving economyJPMorgan Chase saw its first quarter profits jump nearly five fold from a year earlier, as the improving economy allowed the bank to release roughly $5 billion from its loan-loss reserves that it had stored away in the early weeks of the pandemic.
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Banks to see big profits as COVID 'bad' loans become 'good'
Read full article: Banks to see big profits as COVID 'bad' loans become 'good'The nationโs largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again.
