Category: JPMorgan (Page 1 of 191)

A Bank Customer Now Gets Their Money From Account Drained

A bank customer now gets their money from account drained claiming she is more upset with the bank than with the actual situation.

A JPMorgan Chase customer who watched tens of thousands of dollars exit her account says she’s more upset with the bank than the scammers who made her a target, reports The Daily Hodl.

Kristal Kuhn in San Diego says she recently received a phone call from someone pretending to work at Chase’s fraud department, reports FOX News 5.

Out of an abundance of caution, Kristal says she asked her daughter to Google the caller’s phone number, and the results showed it belonged to Chase.

At that point, the caller claimed they flagged a $2,000 transaction and would be sending an access code to Kristal.

Soon after giving the access code to the caller, Kristal says she looked at her accounts and saw that the thieves were moving money around, attempting to transfer a huge sum in one go.

Kristal says she immediately called Chase to freeze the transaction but was told she needed to visit a local branch.

It took her about five minutes to get to a Carlsbad branch but no one was available to assist her.

Still on the phone with Chase, the lender said she could try again the next day because there was no one available to assist her, prompting her to rush to a Vista branch where she again received no help.

She abruptly left to visit a third branch in San Marco where her account was flagged, but the employees who called Chase’s back office struggled to freeze her account.

Eventually it was successfully frozen, after the thieves had already drained her account to the tune of $49,500.

“Had the accounts been frozen in the first five minutes when I asked for it to be frozen, we would not be – or even in the second bank, or even at the beginning of the third bank – we would not be in this situation, and now we’re out $49,000…

I am more angry with Chase Bank than I am with the scammers because of how much Chase Bank failed us as a customer.”

Kristal says she reached out to the FBI and filed a complaint with Chase but the lender refused to give her a refund, claiming that she approved the transaction.

US banking laws require lenders to reimburse victims for certain types of fraud, but not when customers are tricked into giving scammers access to their account.

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Also Read: A US Bank is Now Denying Customers Access to Money

Other Banking News Today

Market News Today - A Bank Customer Now Gets Their Money From Account Drained.
Market News Today – A Bank Customer Now Gets Their Money From Account Drained.

A massive bank will now close more branches as it continues to trim its network in response to falling visits, sources report.

Barclays has announced that it will shutter 22 more bank branches.

The new cuts mean that Barclays is now in line to shut 90 branches this year and another six in 2025.

“Where there is no longer enough demand to support a branch, we maintain an in-person presence through our Barclays Local network, live in over 300 locations, based in libraries, town halls, mobile vans and our banking pods,” said a spokesperson.

“We also support access to cash with our cashback without purchase service, 24-hour deposit-taking ATMs and by working alongside the Post Office and Cash Access UK.”

Lloyds, NatWest, and TSB are among the other UK banks to take an axe to their branch networks over recent weeks, reports Finextra.

“In contrast, US giant JPMorgan Chase will open 500 new branches over the next three years as part of a multi-billion dollar investment in its network, while PNC is to invest $1 billion in refurbishing its existing branches and opening 100 new locations,” says the outlet.

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Also Read: The US Treasury Direct is Now Freezing Customer Accounts

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Market News Today - A Bank Customer Now Gets Their Money From Account Drained.
Market News Today – A Bank Customer Now Gets Their Money From Account Drained.

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A Massive Bank Will Now Close More Branches

A massive bank will now close more branches as it continues to trim its network in response to falling visits, sources report.

Barclays has announced that it will shutter 22 more bank branches.

The new cuts mean that Barclays is now in line to shut 90 branches this year and another six in 2025.

“Where there is no longer enough demand to support a branch, we maintain an in-person presence through our Barclays Local network, live in over 300 locations, based in libraries, town halls, mobile vans and our banking pods,” said a spokesperson.

“We also support access to cash with our cashback without purchase service, 24-hour deposit-taking ATMs and by working alongside the Post Office and Cash Access UK.”

Lloyds, NatWest, and TSB are among the other UK banks to take an axe to their branch networks over recent weeks, reports Finextra.

“In contrast, US giant JPMorgan Chase will open 500 new branches over the next three years as part of a multi-billion dollar investment in its network, while PNC is to invest $1 billion in refurbishing its existing branches and opening 100 new locations,” says the outlet.

For more news and updates like this, opt-in for push notifications.

Also Read: A US Bank is Now Denying Customers Access to Money

Other Economy News Today

Market News Today - A Massive Bank Will Now Close More Branches.
Market News Today – A Massive Bank Will Now Close More Branches.

A massive chain now makes unexpected closures in two states while offering severance pay and job assistance to those affected.

PDQ will close its shops at eight outlets across North Carolina and South Carolina, reports The-Sun.

The chain, famed for its ‘finger-licking chicken’, will board up its windows at outlets in Lake Forest, Cary, Durham, and Raleigh, a company spokesperson confirmed.

However, PDQ’s stand inside PNC Arena in Raleigh will remain open.

Other affected locations include Hickory and Winston-Salem in North Carolina and Greenville and Columbia in South Carolina.

The chain’s site inside Charlotte Douglas International Airport will also keep its doors open, along with a restaurant in Concord and the brand’s flagship location in Cornelius.

PDQ has said it would offer severance pay and job assistance to all employees affected by the closures.

“This difficult decision comes after careful consideration and evaluation of market conditions,” the spokesperson said.

“PDQ’s executive team has visited with all of the restaurant teams over the last week and is offering severance to everyone affected, as well as providing assistance to help them find new jobs.”

Bob Basham and Nick Reader launched PDQ – or People Dedicated to Quality – in 2011 in Florida.

PDQ is headquartered in Tampa and has around 60 locations, predominantly in Florida.

PDQ isn’t the only major chain that is closing store doors.

Denny’s announced it has closed another restaurant only months after an initial closure in the same state at the end of 2023.

It was confirmed on Monday that the famed diner-style chain closed its location in Chubbuck, Idaho, near the southeastern portion of the state, over the weekend.

Several customers criticized the closure, with some even blaming inflation.

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Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

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Market News Today - A Massive Bank Will Now Close More Branches.
Market News Today – A Massive Bank Will Now Close More Branches.

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This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

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Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

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11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



A Massive Chain Now Makes Unexpected Closures In Two States

A massive chain now makes unexpected closures in two states while offering severance pay and job assistance to those affected.

PDQ will close its shops at eight outlets across North Carolina and South Carolina, reports The-Sun.

The chain, famed for its ‘finger-licking chicken’, will board up its windows at outlets in Lake Forest, Cary, Durham, and Raleigh, a company spokesperson confirmed.

However, PDQ’s stand inside PNC Arena in Raleigh will remain open.

Other affected locations include Hickory and Winston-Salem in North Carolina and Greenville and Columbia in South Carolina.

The chain’s site inside Charlotte Douglas International Airport will also keep its doors open, along with a restaurant in Concord and the brand’s flagship location in Cornelius.

PDQ has said it would offer severance pay and job assistance to all employees affected by the closures.

“This difficult decision comes after careful consideration and evaluation of market conditions,” the spokesperson said.

“PDQ’s executive team has visited with all of the restaurant teams over the last week and is offering severance to everyone affected, as well as providing assistance to help them find new jobs.”

Bob Basham and Nick Reader launched PDQ – or People Dedicated to Quality – in 2011 in Florida.

PDQ is headquartered in Tampa and has around 60 locations, predominantly in Florida.

PDQ isn’t the only major chain that is closing store doors.

Denny’s announced it has closed another restaurant only months after an initial closure in the same state at the end of 2023.

It was confirmed on Monday that the famed diner-style chain closed its location in Chubbuck, Idaho, near the southeastern portion of the state, over the weekend.

Several customers criticized the closure, with some even blaming inflation.

For more news and updates like this, opt-in for push notifications.

Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

Other Economy News Today

Market News Today - A Massive Chain Now Makes Unexpected Closures In Two States.
Market News Today – A Massive Chain Now Makes Unexpected Closures In Two States.

This bankrupt clothing retailer is now having a massive sale of up to 90% off as it sets to close a major location.

Soft Surroundings, a women’s clothing retailer, is officially closing one of its stores in Kansas City, Kansas, reports The-Sun.

Located in the Country Club Plaza, the store has been in operation for 12 years.

An employee confirmed on Monday that the store’s last day of operation will be Sunday, February 25.

Shoppers will be able to score a whopping 70% to 90% off on inventory at the store through Sunday.

The clothing chain had over 40 stores across the US before it filed for bankruptcy last year.

All Soft Surroundings stores have either closed down or are in the process of getting shut down.

The company will still conduct direct-to-consumer business online via its website, which the apparel company Coldwater Creek acquired as part of the bankruptcy process.

Another popular fashion and clothing retailer, Rent the Runway, is also on the verge of filing for bankruptcy.

The clothing rental service has struggled with a variety of business operations, such as meeting customer demand and maintaining its active subscriber count, according to PYMNTS.

A report from CreditRiskMonitor revealed that the e-commerce platform has a 9.99% to 50% chance of filing for bankruptcy this year.

In an effort to revitalize the company, Rent the Runway executives formulated a restructuring plan that involves cutting 10% of its corporate roles, or 37 employees.

“With already strong unit economics and high margins, this new structure is designed to set the stage for the business to achieve free cash flow breakeven in fiscal 2024,” said the company.

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Also Read: A Cosmetics Company Now Makes Painful Store Closures

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Market News Today - A Massive Chain Now Makes Unexpected Closures In Two States.
Market News Today – A Massive Chain Now Makes Unexpected Closures In Two States.

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This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

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Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

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11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



This Massive Restaurant Is Now Closing 41 Locations

This massive restaurant is now closing 41 locations over the next quarter due to major underperformance, sources report.

Bloomin’ Brands will close 41 stores over the next quarter, reports Restaurant Dive.

These units include 36 “predominantly older, underperforming restaurants” and five Aussie Grill locations, including three in the U.S. and two in international markets, according to the company’s latest earnings release.

Bloomin’ decided to close the restaurants in question following a periodic review of assets that included consideration of trade area, historical performance and the investment required to renovate the units and strengthen their sales, CEO David Deno said on the company’s Q4 2023 earnings call.

The company will see “asset impairments and net closure charges of $32.3 million during Q4 2023.

We expect to complete these closures during Q1 2024 and incur charges of between $8 million and $11 million,” according Bloomin’s earnings release.

Deno said Bloomin’ would offer transfer opportunities to a large number of impacted employees and severance payments to those it cannot place.

The closures were not a reflection of the performance of individual employees, Deno said.

“A majority of these restaurants were older assets with leases from the 90s and early 2000s,” Deno told analysts.

Aussie Grill, the smallest of Bloomin’s brands, will be hardest hit by the closures.

According to the chain’s Q3 earnings release, the fast casual brand had 14 units at the start of Q4, with seven in the U.S. and seven in international markets.

The chain’s five closures represent a more than 35% drop in unit count for the brand.

Bloomin’ expects to open 40 to 45 new restaurants in 2024, in areas Deno described as “promising trade areas with great potential.”

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Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

Other Economy News Today

Market News Today - This Massive Restaurant Is Now Closing 41 Locations.
Market News Today – This Massive Restaurant Is Now Closing 41 Locations.

A massive restaurant now closes all locations in one major state, shocking employees after such short notices were provided.

Outback Steakhouse has unexpectedly announced it would close all of its locations in Hawaii “leaving workers shocked by the news”, reports The-Sun.

Employees claimed they were given just two days’ notice before the chain closed its last three locations in Hawaii.

The Australian-themed casual dining restaurant closed down its restaurants in Kapolei, Waipahu, and Kailua-Kona on February 18, according to local ABC affiliate KITV.

This news was confirmed by the executive director of the Hawaii Restaurant Association, Sheryl Matsuoka, who said the news was unexpected, according to Fox affiliate KHON-TV.

“The Outback brand has decided to pull out of Hawaii and it’s very unfortunate that the three locations will close up,” Matsuoka said.

Staff at claimed management informed them about the Sunday closure on Saturday morning.

Vanessa Glosson, an employee at the Kailua-Kona location said she wished she had been told earlier.

“It was kind of sad that it was such short notice due that a lot of people could have been looking for jobs elsewhere at the time,” Glosson said.

Wanda Wernar, a member of staff at the Waipio branch, explained how they were informed.

“Basically we found out this morning we were closing in two days,” Wernar said on February 17.

“Tomorrow is the last day of business, we’re opening tonight for dinner, we’re opening tomorrow and that’s it that’s the last day.”

A manager at one of the final three stores alleged the reason for the closure was the rising cost of prices and utilities on the island.

Matsuoka explained that these economic conditions had proved to be difficult for many restaurants.

“Restaurants, they try their best to stay in business but the margins are so small,” she said.

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Also Read: This Massive Mall Retailer Is Now Closing In California

Market News Published Daily 📰

Market News Today - This Massive Restaurant Is Now Closing 41 Locations.
Market News Today – This Massive Restaurant Is Now Closing 41 Locations.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



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