Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’
Publishing timestamp: 2024-06-01 08:00:01
Summary
Yotta customers have been locked out of their accounts for three weeks due to a dispute between Synapse and Evolve Bank & Trust, causing significant disruption and financial hardship for many. The situation has exposed risks in the fintech industry and regulators have not yet intervened to help resolve the issue.
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Keywords: fintech, business, dave inc, banks, breaking news: markets, breaking news: investing, business news, investment strategy,
Source: https://www.cnbc.com/2024/06/01/synapse-bankruptcy-yotta-accounts-locked.html