You may have noticed lately that there is a trend of bank closures as more and more people continue to bank online and get more in to Defi. A man in California deposited a $33,000 check into Bank of America account and it disappears as the branch closes hours later.
Brian Leonard, man of Oakland was in a panic when he deposited $33,000 into BofA, and hours later the branch was closed and his money was never posted. After he discovered that the branch was closed he visited another branch and that location was closed as well. It was like a bad dream for Leonard. When he finally got to a branch he provided receipts as proof of transaction. He was informed by BofA tellers and managers that there was no trace of the transaction and there was nothing they could do about it.
Leonard was baffled that no one even offered to at least try to figure out what happened to his transaction after providing proof. He found that there was one more thing he could do. He contacted the bank's CEO, the federal government, and KGO-TV. After these efforts they found that the cashiers check was made out to Bank of America and not Brian Leonard, delaying the process. This is a reminder that storing large amounts of money in banks is not always the safest.
| Thousand of citizens have been wrongfully fired due to refusing the vaccine mandate. Measures aimed to protect individuals who refused vaccinations under any exemption, medical, religious, or other qualifying circumstances, cleared its first huddle at the Arizona house on February 1st. | Fox 10 Phoenix explains that if passed, "HB 2198, the Employees Compensation Bill, would mean an employer would pay the amount of the employee's annual salary in one lump sum or installments over 12 months. The other option is, the employee would be rehired for the same or similar position." Hopefully other states will start following suit. |
Due to the chip shortages hampering the supply chain of parts needed to make new cars, Ford announced halting production at four plants. Halts will be taking place at facilities in Chicago and Mexico. There will be shift reductions in Kansas City and Dearborn, Michigan, according to CNN Business and temporary production halts in Wayne, Michigan, Missouri and Mexico, according to the Chicago Sun-Times. After Ford announced that there earnings fell short in 2021 and caused a dip in the companies stock price, on February 4th they decided that this was the best move.
According to Newsweek, "Last month, the Commerce Department said the low supply of semiconductor computer chips could lead to temporary factory closures across the U.S. The department also called on Congress to pass over $50 billion in funding to invest in the production of the semiconductors on U.S. soil to decrease reliance on foreign production and the supply chain that has been disrupted by COVID." Despite their shortcomings Ford remains positive that after the closures production will remain to increase.