- BofA notifies customers of temporary industry-wide deposit delays

Bank of America’s mobile app recently displayed a message notifying customers of potential delays in depositing funds due to a technical glitch affecting multiple financial institutions. The issue may be related to The Clearing House (TCH), a core payments system infrastructure owned by major commercial banks worldwide. A spokesperson for TCH confirmed the processing issue with a single Automated Clearing House (ACH) file and stated that they are working with affected financial institutions to resolve the matter. In addition to Bank of America, other banks such as JPMorgan Chase, Truist Financial, and U.S. Bancorp were also experiencing the same problem, according to Downdetector.com. The banks have not yet responded to requests for comment. However, the Federal Reserve Financial Services website reported that all services were operating normally as of 12:44 PM Eastern Time (ET). The article was reported by Niket Nishant and Manya Saini in Bengaluru, Saeed Azhar and Tatiana Bautzer in New York, and edited by Shweta Agarwal. The article adheres to The Thomson RushHourDaily Trust Principles.