Wells Fargo customers are skeptical about the reason why they were unable to access accounts; the bank said there was a power shutdown at one of their facilities due to smoke found during routine maintenance; customer took to Twitter to wonder how smoke at one facility could caused the level of outages experienced; the bank was keen to mention it was not a cybersecurity event and that services were being restored; this is not the first time a technical issue caused problems for the bank, a past glitch caused hundreds of customers into foreclosure; as banks compete with more nimble digital challengers tech issues need to be addressed transparently or banks risk losing market share. Source.
