JPMorgan Takes Legal Action Against Customers Over 'Infinite Money Glitch'! 💰

Summary:

  1. Lawsuits Filed
    JPMorgan Chase is suing customers who exploited an ATM glitch, allowing withdrawals before checks bounced, with cases filed in at least three federal courts.

  2. Viral Glitch Incident
    The “infinite money glitch” went viral on TikTok in late August, showcasing individuals withdrawing large sums from Chase ATMs after depositing bad checks.

  3. Investigating Cases
    The bank is investigating thousands of instances related to this glitch but has not disclosed the total losses incurred.

  4. Response to Fraud
    JPMorgan aims to signal that it will not tolerate fraud by prioritizing cases involving significant amounts and potential ties to criminal activity.

  5. Collaboration with Authorities
    The bank has referred several cases to law enforcement and emphasized the importance of maintaining trust in the banking system while pursuing accountability for fraudulent actions.

Read more at: CNBC | NBC News

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