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.world
    link
    fedilink
    English
    arrow-up
    84
    ·
    21 hours 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
      link
      fedilink
      arrow-up
      64
      ·
      21 hours ago

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

        • CarbonIceDragon@pawb.social
          link
          fedilink
          arrow-up
          17
          ·
          21 hours ago

          He’s an old man. Unless anti-aging research unexpectedly advances several orders of magnitude faster than its been doing in the next few years, he’ll be leaving office one way or another.

              • whithom@discuss.online
                link
                fedilink
                arrow-up
                4
                arrow-down
                11
                ·
                19 hours ago

                That is how that works. Genetics strongly influence factors like disease resistance, metabolism, and cellular repair, which contribute to a longer lifespan.And trump has easy access to cutting edge medicine.

                • kent_eh@lemmy.ca
                  link
                  fedilink
                  English
                  arrow-up
                  11
                  arrow-down
                  1
                  ·
                  19 hours ago

                  Genetics strongly influence factors like disease resistance, metabolism, and cellular repair, which contribute to a longer lifespan

                  A sedentary lifestyle, obesity and a diet heavy in hamberders and other crap food can more than offset that.

    • BigMacHole@lemm.ee
      link
      fedilink
      arrow-up
      11
      arrow-down
      3
      ·
      21 hours 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!