Online banking services are being disrupted across the U.S.

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With various conflicts going on across the globe, should you also be worried about the issues affecting U.S. banks? According to reports, several banks in America have been shutting down hundreds of branches and laying off thousands of workers.

Additionally, many customer accounts are being shut down without any warning.

U.S. banks affected by "glitches"

"Glitches" are affecting the banking system. One such glitch resulted in paychecks not being deposited at many banks recently.

Customers at major U.S. banks, such as Bank of America and Wells Fargo, have complained about delays with their direct deposits on Nov. 7, following a glitch with processing payments. Many contacted their banks through social media to report that their paychecks did not land in their accounts as expected. Some continued to complain that they were still waiting for their direct deposits days after.

Bank of America and Wells Fargo both referred questions to The Clearing House (TCH), a payments company that operates the only private-sector automated clearing house (ACH) system in the country.

The Federal Reserve claimed that the problem wasn’t because of a cybersecurity issue and that it had been resolved. And even though The Clearing House promised that things would be resolved, their promise could be hiding a threat that was undisclosed to account holders.

In an email, The Clearing House spokesperson Greg MacSweeney announced that many of the delayed payments have already been posted and that the company continues to cooperate with financial institutions to make sure the remaining transactions are processed properly.

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However, an industry source revealed that it was possible some customers still haven’t received their deposits yet. The source added that banks can't do anything but wait for the originating bank to resend payment files.

Additionally, online banking services are being disrupted throughout the country on a massive scale. Data reveals that major U.S. banks also experienced unusual outages early in November.

For example, while Chase was experiencing outages, Citibank was also affected by a spike in outages. The same thing happened to Bank of America and Wells Fargo.

So what are causing these spikes in banking outages? Could they have been linked to cyberattacks? Bank account holders can only hope that things eventually settle down and that these "glitches" and outages subside.

Credit crunch could be a long-term issue

The credit crunch affecting the U.S. could be a long-term issue. The Federal Reserve has said that lending standards for business loans got tighter during the third quarter.

Meanwhile, a survey of loan officers conducted by the Federal Reserve showed that banks continued to tighten standards for business loans in the third quarter. Some banks have also tightened lending standards for credit-card, automobile and other consumer loans.

Another survey conducted by Goldman Sachs revealed that at least 80 percent of small business owners in America are worried "about their ability to access capital." For the survey, Goldman Sachs contacted small business owners who reported serious concerns about the nationwide credit crunch stalling their growth. Others even reported worries about having to close up shop.

The survey also revealed that 29 percent of small business owners can't afford to take out a loan given the current interest rates. At least 85 percent answered that if access to capital continues to tighten, it will impact their growth forecast. Of the 85 percent, 67 percent reported that they would have to stop expansion plans if credit continues to tighten while 21 percent would have to close their business if the credit market continues on this trajectory.

This suggests that many banks all over the U.S. have gotten very tight with their money, which could affect the economy in 2024 and beyond.

Recent events hint that the era of easy credit is over, with U.S. banks now struggling with mountains of bad debt. To save money, desperate banks are shutting down branches and laying off workers. (Related: Federal Reserve will keep increasing interest rates despite worsening banking crisis.)

Employees at Citigroup are on tenterhooks to find out who will keep their jobs and who will get fired during the wave of layoffs on the horizon. When Citigroup CEO Jane Fraser announced in September that her sweeping corporate overhaul would cause an undisclosed number of layoffs, some 240,000 employees shared a collective fear that they would lose their jobs.

Managers and consultants working on Fraser's reorganization, internally known by its code name "Project Bora Bora," have discussed job cuts of at least 10 percent in several major businesses, revealed insiders. The talks are early and numbers may change in the coming weeks.

For now, U.S. bank holders must prepare for the incoming financial instability. It could mean that the flow of credit will be even tighter, that more bank branches are going to close and that more prominent banks are going to fail.

This is bad news for the whole country because banks are the beating heart of the U.S. economic system.

The country needs healthy banks, but America is now on the verge of a banking crisis unlike anything it has ever experienced before.

Watch the video below to learn more about problems with banking systems in Australia and the rest of the world, WWIII and AI.

This video is from the Tanjerea channel on Brighteon.com.