Entire Federal Reserve payment system CRASHES due to 'operational error' freezing $ 3trillion in daily transactions including paychecks, tax refunds and bill payments
All Federal Reserve settlement services suffered disruptions on Wednesday
The key banking systems were offline for more than three hours
Fed says that the massive outage was caused by an 'operational error'
Systems affected form the backbone of US banking and financial sector
Fedwire is used by banks to transfer an average of $ 3.3 trillion every day
FedACH handles smaller transactions such as paychecks and tax refunds
Daily Mail
Entire Federal Reserve payment system CRASHES due to 'operational error' freezing $ 3trillion in daily transactions including paychecks, tax refunds and bill payments
All Federal Reserve settlement services suffered disruptions on Wednesday
The key banking systems were offline for more than three hours
Fed says that the massive outage was caused by an 'operational error'
Systems affected form the backbone of US banking and financial sector
Fedwire is used by banks to transfer an average of $ 3.3 trillion every day
FedACH handles smaller transactions such as paychecks and tax refunds
And they want a cashless economy? LOL!
There is little that can be done