Several major U.S. banks on Friday experienced outages caused by a processing issue that led to deposit delays for customers.
Bank of America, Wells Fargo, Chase, Truist and U.S. Bank were among the institutions affected.
The Federal Reserve said on its website that the processing issue at its private sector automated clearing house operator had “resulted in a number of ACH entries having certain data elements obscured.” Those items were “not able to be processed by receiving depository financial institutions” due to the issue, according to the alert.
“All Federal Reserve Financial Services are operating normally,” the Federal Reserve said Friday afternoon.
This is a developing story. Please check back for more updates.
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