NOTE: HOW ONE SINGLE BANK GLITCH, CAN IMPACT ACCESS TO YOUR OWN FUNDS, WITHIN SECONDS,THINK OF THIS ON A NATIONAL SCALE-

Good morning Steve , 2/23/18

It's Friday. Payday. Like most Americans on payday I go to my bank and I
look to see what my paycheck was from the prior week as mine varies from
week to week. Upon checking my balance what do I find,my direct deposit
paycheck has been deposited and then immediately withdrawn .

I called the customer service phone number for my bank and the line was
busy. This bank is one of the larger banks in the state of Connecticut and
no doubt means that I'm not the only one dealing with
this issue.

So I drove down to the local branch headquarters and when I walked in I was
immediately greeted by a manager and asked if I was here about the direct
deposit issue.I had not even been five steps in the door when I was
approached which I find a curious side note.

It turns out every single direct deposit paycheck, scheduled for today in my
bank was rejected .

The issue has to do with COCC, Babe Bank financial technology company
that deals with the communication between banks.

Every single bank that uses COCC has had their deposit rejected.

I called COCC directly and a very sweet, yet sounding somewhat frazzled girl
on the phone, did her best to assure me that they were doing everything they
could to correct the problem and have everyone's money is back in their
accounts within a few hours .

My question is how did it happen? innocent error, hack, dry run for
something sinister?

just thought that might interest you. How easily this system can collapse---
Matt

Feb 23, 2018

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