The recent implosion of banking-as-a-service startup Synapse has had significant repercussions across the fintech sector. Teen fintech company Copper was forced to urgently and emergency discontinue its banking and debit products due to the crisis. This disruption has left potentially millions of Americans without access to their funds for nearly two weeks, as revealed by recent court documents. A dispute between Synapse and its banking partners has exacerbated the situation. One affected individual reported having nearly $38,000 tied up as a result of Synapse's bankruptcy.
A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents. https://t.co/488D0QRcRZ
Fintech nightmare: 'I have nearly $38,000 tied up' after Synapse bankruptcy https://t.co/DVaMluwjo1
Fintech startup Copper forced to discontinue banking services amid Synapse fiasco https://t.co/WGbpoX0aNG
Teen fintech Copper had to emergency discontinue its banking, debit products: https://t.co/dHVsfk3DXh by TechCrunch #infosec #cybersecurity #technology #news
Teen fintech Copper had to emergency discontinue its banking, debit products https://t.co/QlJyojjdqN
Another fintech startup, and its customers, has been gravely impacted by the implosion of banking-as-a-service startup Synapse. https://t.co/wMn0IqjwHV