The Clearing House Payments Co. said Monday that a technical error on Thursday resulted in some payment information sent to banks with account numbers and customer names masked, preventing them from being processed immediately.
FILE - The Bank of America logo is seen on a branch office, Oct. 14, 2022, in Boston. A glitch in the network that processes electronic transfers between nearly all U.S. bank accounts has led to delays since Thursday, Nov. 2, 2023, in settling deposits, some of which remain stalled. TCH, as the company is known, is owned by a group of 22 major banks, including Citibank, Wells Fargo, Bank of America and J.P. Morgan Chase.
TCH apologized for the error and emphasized that individual banks were not responsible for the situation. It also noted that the issue affected only a “very small percentage” of all transactions. It said it was working with the banks, their customers and the Federal Reserve to fix the problem as quickly as possible.If you purchase a product or register for an account through a link on our site, we may receive compensation.
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