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Signature Healthcare Resolves Payroll Delay Caused by Capital One Banking Disruption

1. Capital One caused a payroll delay affecting Signature Healthcare stakeholders. 2. Technical issues with Capital One's payment processing led to payment disruptions. 3. Emergency financial assistance was provided to impacted stakeholders by Signature Healthcare. 4. The payment issue has been resolved as of January 22, 2025. 5. Signature Healthcare prioritized stakeholder well-being during this unexpected challenge.

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FAQ

Why Bearish?

This incident could harm Capital One's reputation, affecting investor confidence, similar to past technical failures.

How important is it?

The incident may impact investor sentiment toward Capital One in the near term.

Why Short Term?

The issue's immediate impact may reduce investor optimism, but resolution limits long-term effects.

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Louisville, KY, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Signature Healthcare recently experienced a payroll delay affecting some of our Stakeholders due to a disruption caused by Capital One and its third-party payment vendor. On January 17, 2025, a technical issue with Capital One's payment processing system delayed the direct deposit payroll for certain Signature Healthcare facilities. This unforeseen disruption posed temporary challenges for some of our Stakeholders, and we acted promptly to address and resolve these hardships, including offering emergency financial assistance to those in immediate need. The root cause of the delay originated outside of our organization and was tied to technical issues in Capital One's payment processing system. Throughout this event, we actively partnered with Capital One to ensure swift resolution. We are pleased to confirm that the issue has been fully resolved as of January 22, 2025. At Signature Healthcare, the well-being of our Stakeholders and residents remains our top priority. We are deeply grateful for their patience, understanding, and continued dedication during this unexpected challenge. Our Stakeholders are at the heart of everything we do, and we remain steadfast in supporting them, especially during challenging times. We also extend our heartfelt thanks to our team leaders for their exceptional efforts in supporting our Stakeholders throughout this situation. Their commitment and tireless work are a testament to the culture of care and dedication that defines Signature Healthcare. For media inquiries, please contact our Communications Team at crisiscomms@SignatureHealthcareLLC.com.

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