Important Takeaways:

• Customers at Bank of America, Wells Fargo and other banks grappling with deposit delays
• Customers at major U.S. banks including Bank of America and Wells Fargo complained about delays with their direct deposits on Monday, following a glitch with processing payments that began Friday.
• The Federal Reserve on Friday said the problem wasn’t related to a cybersecurity issue and that it had been resolved. But customers on Monday continued to report delays with direct deposits, reaching out to their banks on social media to report that their paychecks hadn’t landed in their accounts as expected.
• Wells Fargo and Bank of America referred questions to The Clearing House, a payments company that operates the only private-sector automated clearing house (ACH) system in the U.S.

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