By KEN SWEET (AP Business Writer) NEW YORK (AP) — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts as a middleman between financial technology companies and banks. Synapse filed for Chapter 11 bankruptcy protection in April and has shut down its services to some of its fintech or bank partners, including Evolve Bank & Trust.
Abrupt Shutdown Of Financial Middleman Synapse Has Frozen Thousands Of Americans’ Deposits
Associated Press, South Florida Sun-Sentinel
Wed, 05/22/2024 - 2:36pm
Topics: ken sweet ap business writer new york ap evolve bank trust memphis-based evolve san francisco-based tennessee-based lineage bank fintech silicon valley-backed it s u.s federal reserve federal deposit insurance corporation traditional the jason mikula goldman sachs rushcard the the synapse chapter evolve evolve synapse s evolve americans in consumer financial protection bureau frozen thousands deposits abrupt shutdown financial middleman customers company banks companies funds accounts customer bankruptcy court disruptions banking number regulators technology tens yotta filed due model partners services caused buy impact confirm law unable high roughly users million time comply impacted
BING NEWS:
- Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits
NEW YORK (AP) — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company ...
05/22/2024 - 12:50 pm | View Link - Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits
Synapse’s shutdown has “needlessly ... first time a problem with a financial middleman has caused pain to average Americans. In 2015, hundreds of thousands of customers of the prepaid debit card ...
05/22/2024 - 12:05 pm | View Link - Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans’ deposits
NEW YORK (AP) — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company ...
05/22/2024 - 7:01 am | View Link - Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits
NEW YORK (AP) — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, ...
05/21/2024 - 1:00 pm | View Link - More
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