DENVER (KDVR) — Some people are not getting their paychecks on Friday due to a banking system issue. Deposits are reportedly delayed at multiple banks across the U.S.
The Federal Reserve is reporting an issue with the Automated Clearing House, which is the primary system agencies use for electronic funds transfers.
Both Chase and Bank of America gave statements to CNN, confirming that some deposits may be delayed.
The Fed reported a batch of transfers had a processing issue. The agency further stated that the issue appears to be a processing matter with EPN, which is ACH’s private-sector operator.
Any deposits authorized on Nov. 2 at 6 p.m. appear to have the account and recipient information obscured, according to the Federal Reserve.
According to Downdetector, hundreds of individuals are complaining about issues with their banks, including Huntington Bank, PNC, TD Bank, Chase and Bank of America.