JPMorgan Sues Customers Over 'Infinite Money Glitch' That Went Viral On TikTok: 'They're Held Accountable'
Portfolio Pulse from Benzinga Neuro
JPMorgan Chase & Co is suing customers who exploited a technical flaw to withdraw funds from ATMs before checks bounced, known as the 'infinite money glitch'. The bank has filed lawsuits in three federal courts and is investigating thousands of potential cases. JPMorgan's CEO, Jamie Dimon, also criticized recent regulatory efforts.
October 29, 2024 | 2:39 am
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JPMorgan Chase & Co is taking legal action against customers who exploited a technical flaw to withdraw funds from ATMs. The bank is investigating thousands of cases and has filed lawsuits in three federal courts.
The legal actions and ongoing investigations could lead to negative sentiment around JPMorgan, potentially impacting its stock price negatively in the short term. The bank's involvement in a high-profile fraud case may raise concerns among investors.
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IMPORTANCE 80
RELEVANCE 100