US Treasury Direct Freezing Customer Accounts

9.1.23 - US Treasury Direct Freezing Customer Accounts

Gold last traded at $1,940 an ounce. Silver at $24.17 an ounce.

The US Treasury Direct is Now Freezing Customer Accounts-FrankNez.com

The US Treasury Direct (TreasuryDirect) is now freezing customer accounts, leaving users without access to their funds from weeks to months.

Tammarra Johnson reported to FrankNez that TreasuryDirect has frozen her account ever since she made a deposit going all the way back to April.

Users can purchase securities directly from the US Treasury with TreasuryDirect.

However, big financial institutions have access to TreasuryDirect's auction house which means they have priority over individual customers.

Finance Strategists reports that's securities purchased through TreasuryDirect cannot be sold in the secondary market before they mature.

"This lack of liquidity could be a disadvantage for investors who may need to access their investment capital before the securities' maturity."

But Johnson's issue is a little different - TreasuryDirect froze the account after a deposit from a settlement.