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Federal Reserve “Network Issues” Cause Nationwide Direct Deposit Outage

Courtesy of ZeroHedge View original post here.

In recent years, banks and credit card processors had blamed hackers, blackouts, infrastructure inefficiencies, and of course the "Russians" for periodic service outages. As of today, they are now blaming the Fed itself.

Starting around 7am, there was a surge of outages reported at Capital One…

… with DownDetector noting that while focused on the Northeast, the outages was nationwide.

What happened?

According to CapitalOne, network issues at the Federal Reserve were causing certain banking transactions to be delayed.

“We’re monitoring the situation closely in partnership w/ the Fed,” Capital One said in a tweet.

Capital One says it will make sure transactions are posted as soon as possible as soon as Fed issues are resolved.

During the day, customers on Twitter of Capital One and other banks have complained that their direct deposits have been delayed.

@AskCapitalOne any issues with direct deposit today?

— Magee (@DP_Magee) December 19, 2019

Various other banks and credit unions were also experiencing the direct deposit outage.

The Fed has yet to comment on the nature of the "network outage." Speculation that this is just a test of how the Fed plans to conduct Universal Basic Income by making direct deposits into each American's bank account remains just that.

 

 

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