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The private company that processes many bank-to-bank electronic transfers said a 'processing error' last week led to payment delays on roughly 850,000 transactions.
Union Bank was an American national bank with 398 branches in California, Washington, and Oregon. It was owned by MUFG Americas Holdings Corporation and was acquired by U.S. Bancorp in December 2022.
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Atlantic Union Bank's parent company is bank holding company, Atlantic Union Bankshares Corporation. [ 5 ] [ 6 ] As of June 2023 [update] , Atlantic Union Bank was the largest regional bank headquartered in Virginia, also operating in Maryland and North Carolina . [ 7 ]
The bank would ask for the account number, the name on the check, the amount and the check number and just look up the account. Due to banks issuing privacy policies [ 8 ] [ 9 ] designed to protect identity and fraud, telephone merchant funds verification by calling the bank directly is now rare for any bank or credit union to offer this service.
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Union Bank & Trust Company is a privately owned, state chartered commercial bank headquartered in Lincoln, Nebraska. The bank was founded on February 28, 1917, under the name Farmer's State Bank . The name was changed to Union Bank in 1935, then to its current name in 1959 with the addition of trust powers. [ 1 ]