CNBC spoke to a dozen customers caught in the Synapse fintech predicament, people who are owed sums ranging from $7,000 to well over $200,000.

KEY POINTS

  • Thousands of Americans will receive little or nothing from savings accounts that were locked during the collapse of fintech middleman Synapse.
  • Customers believed the accounts were backed by the full faith and credit of the U.S. government.
  • CNBC spoke to a dozen customers caught in the predicament, people who have lost sums ranging from $7,000 to well over $200,000.
  • While there’s not yet a full tally of those left shortchanged, at fintech Yotta alone, 13,725 customers say they are being offered a combined $11.8 million despite putting in $64.9 million in deposits.
  • cybervseas@lemmy.worldEnglish
    96·
    1 month ago

    I’m sorry this happened. I’m concerned that further deregulation and dismantling of consumer or protections will make this even worse.

    • Ledivin@lemmy.world
      69·
      1 month ago

      Good news, there will be an absolute fuck-ton of further deregulation and dismantling of consumer protections over the next four years!

    • BigMacHole@lemm.ee
      133·
      1 month ago

      Why are you WORRIED about FURTHER Deregulation of your Money so that THIS EXACT SCENARIO can Happen to you too? You must be a SOCIALIST! I cant WAIT for Trump to Deregulate my Money so Banks can LOSE it All!