Several major U.S. banks on Friday experienced outages attributable to a processing issue that led to deposit delays for purchasers.
Bank of America, Wells Fargo, Chase, Truist and U.S. Bank were among the many institutions affected.
The Federal Reserve said on its website that the processing issue at its private sector automated clearing house operator had “resulted in numerous ACH entries having certain data elements obscured.” Those items were “not in a position to be processed by receiving depository financial institutions” on account of the difficulty, in response to the alert.
“All Federal Reserve Financial Services are operating normally,” the Federal Reserve said within the afternoon.
The Clearing House spokesperson Greg MacSweeney told FOX Business it “experienced an ACH processing issue which impacted lower than 1% of the day by day ACH volume in the US.”
The Clearing House runs EPN, the payments network that the Federal Reserve pointed to as having experienced the difficulty. The EPN “handles essentially half the U.S. business ACH volume,” in response to its website.
“TCH is working with the financial institutions who’ve customers which were impacted,” MacSweeney continued.
![Bank of America said in a message to customers that](https://nypost.com/wp-content/uploads/sites/2/2023/11/iStock-458692387.jpg?w=1024)
“A system issue affected ACH debits and credits sent to us, in addition to to other banks,” a Chase spokesperson told FOX Business. “The originators of those deposits are working to resend the payment files and we are going to post them as soon as we will.”
Bank of America said in a message to customers that “your accounts remain secure, and your balance will probably be updated as soon because the deposit is received.”
Wells Fargo referred FOX Business to MacSweeney’s statement; the bank said on X that its “technical teams are aware and dealing to resolve this issue as quickly as they will.”
Truist and U.S. Bank didn’t reply to FOX Business’ requests for comment.