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.
  • Eezyville@sh.itjust.worksEnglish
    1·
    1 month ago

    Yes I agree. I was thinking of switching from my current bank to one that had a 5% interest for my emergency fund but it’s a new bank to me. I didn’t recognize the name. Decided not to do it because I don’t know who they are. I’m referring to Openbank.