Hacker News with Generative AI: Banking

Show HN: We open sourced a $50M neobank (hackclub.com)
Hack Club launched HCB in 2018 to enable hackathons to raise and spend money through fiscal sponsorship.
Founder Charlie Javice found guilty of defrauding JPMorgan Chase (cnbc.com)
Technical Analysis – Improper Use of Private iOS APIs in Vietnamese Banking Apps (verichains.io)
Yesterday, reports emerged in the Vietnamese infosec community that two popular banking apps – BIDV SmartBanking and Agribank – were using hidden / private iOS API to detect other apps installed on users’ iPhones.
HSBC fired investment bankers on bonus day and gave them no bonuses (ft.com)
HSBC fired investment bankers on bonus day and gave them no bonuses
Two Americas, one bank branch, and $50k cash (bitsaboutmoney.com)
In the sciences they call it the file drawer problem: studies that fail to achieve significance or reach the "wrong" conclusion end up hidden away, creating a distorted picture of reality.
Banking's critical functions are vanishing into the cloud (ft.com)
It’s 9pm — do you know where your data is?
Citi group accidentally sends someone $81T (bloomberg.com)
I think the best job in tech, or at least my dream job, is designing the user interface for the payments department of Citigroup Inc.
Citigroup credited client's account with $81T (theguardian.com)
The US bank Citigroup credited a client’s account with $81tn when it meant to send $280 – before the “fat finger” error was caught.
Citigroup Makes (and Then Fixes) an $81T Mistake (nytimes.com)
Citigroup accidentally credited a client’s account with $81 trillion when it meant to send only $280, the latest mistake at a bank that is struggling to repair its reputation after a string of errors in recent years.
Consumer Bureau Drops Lawsuit Against Capital One (nytimes.com)
The Consumer Financial Protection Bureau dropped a lawsuit against Capital One that claimed the bank cheated customers out of interest payments.
Thousands report Lloyds, Halifax and TSB banking apps not working (bbc.co.uk)
Thousands of banking app users in the UK have reported issues affecting their ability to use them.
Citigroup credits account with $81tn instead of $280 (ft.com)
Bank CEO: Retract your debanking piece? Me: No (kalzumeus.com)
Nathan McCauley, the CEO of Anchorage Labs, Inc. d/b/a Anchorage Digital, and a board member (and, on faith and belief, CEO) of a federally chartered bank, has requested a retraction of the piece Debanking (and Debunking?). He alleges inaccuracies, misleading statements, omission of key facts, and other improprieties.
Why Banks May Be Hoping You're Not Paying Attention (nytimes.com)
They have no fiduciary duty in many cases and can profit from customers’ confusion. But where’s the line between unsavory and illegal?
It's Time to End the Bureaucrat's Secret Weapon: Debanking (coindesk.com)
"Debanking" has become a buzzword in Washington lately. The term refers to a controversial practice where crypto companies and other businesses have been cut off from banking services, allegedly due to pressure from federal regulators.
Barclays tells customers to contact food banks as IT disruption enters third day (news.sky.com)
Barclays has advised customers to contact food banks after a major IT glitch left some locked out of their accounts - with the disruption likely to continue today.
UK's Barclays Bank's online services hit by major technical outage (bbc.com)
Barclays customers are entering a third day of issues with payments and transactions as the bank struggles to fix ongoing technical issues.
Barclays bank hit by major IT outage on tax deadline day (bbc.co.uk)
Barclays bank is experiencing serious IT problems which are affecting its app and online banking, as well as payments in and out of accounts.
Barclays Bank goes down on payday (the-independent.com)
Barclays’ app and online banking appear to be down.
More than 130 Lloyds, Halifax and Bank of Scotland branches to close (news.sky.com)
Lloyds Banking Group is to close a further 136 branches.
HSBC to exit parts of investment banking business in UK, US and Europe (ft.com)
No one is disrupting banks – at least not the big ones (popularfintech.com)
The largest U.S. banks just reported their fourth quarter and full-year 2024 results. And you know what? Banks are doing really well. This made me realize that, unfortunately, despite almost 30 years of trying, Fintech companies have not disrupted banks. At least, not the big ones.
Ask HN: Why are banks charging so many fees for accounts and cards? (ycombinator.com)
I'm trying to understand why banks still charge account fees and card fees, especially when they don't seem to make significant profits from them.
FDIC sues 17 former Silicon Valley Bank executives over collapse (cnn.com)
FDIC sues 17 former Silicon Valley Bank executives over collapse (cnn.com)
How Can a Major Bank Like Capital One Be Offline for 24 Hours? (nbcnews.com)
Capital One said an unspecified technical issue was hampering customer account access Thursday, as some users reported issues with direct deposits.
AmEx to Pay $108.7M for Deceptive Marketing and "Dummy" Account Information (justice.gov)
The American Express Company (American Express), based in New York, New York, has agreed to pay a $108.7 million civil penalty to resolve allegations that it violated the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by deceptively marketing credit card and wire transfer products and by entering “dummy” Employer Identification Numbers in the credit card accounts of its affiliate bank.
CFPB sues Capital One for 'cheating' customers out over $2B in interest (cnbc.com)
Will FedACH process ACH payments on the National Day of Mourning, Jan 9, 2025? (moderntreasury.com)
On Thursday, January 9, 2025, the United States will observe a national day of mourning to honor the late President Jimmy Carter. While this is not a federal holiday, it has raised questions about business and banking operations.
International Bank Note Society (theibns.org)
The International Bank Note Society (IBNS) announces that its voting membership has for the first time selected the Eastern Caribbean Central Bank to receive its annual prestigious “Bank Note of the Year Award” for 2023.