Credit/Debit Cards and ATM's "Down"- Banking Crisis?"
"Reports are starting to come into SuperStation95 that Credit/Debit Cards are not working at various stores and a vast number of Automatic Teller Machines (ATM's) are "down." We have dispatched some of our staff to various types of merchants in the New York City area to see if the problem is widespread or just some glitch; it seems widespread. Are we entering a banking crisis due to the Brexit vote? Bank stocks took a large "hit" in stock markets around the world today as ill-advised and unprepared financial "experts" failed to see that the British people wanted "out" of Europe. Could these stock losses have impacted the banks so severely that they must cut-off credit to maintain legally required reserves?
Update 7:05 PM EDT More reports coming in. Widespread outages affecting many geographic areas. The Home Depot in Carmichael, CA is reporting similar trouble, as are merchants in CT.
UPDATE 7:46 PM EDT Bloomberg Business News is CONFIRMING a major "issue" is taking place. Details
UPDATE 8:22 PM EDT Shop Rite Supermarkets in northern NJ and CT are unable to accept credit or debit cards. Their processor, Authorize.net, reports "all systems operational" which means the trouble is at their bank which is reportedly Wells Fargo.
UPDATE 9:15 PM EDT Reports also coming in that GAS STATIONS are unable to process credit or debit cards for fuel purchases in New York.
UPDATE 10:15 PM EDT The "issue" seem to have been resolved. Reports now say the stores affected by the earlier outage are now able to process credit and debit cards, and that ATM's are back.
More details as they become available... Check back."