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'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis (www.cnbc.com)

submitted 15 hours ago by shoulderoforion@fedia.io to c/technology@lemmy.world

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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.

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[–] Fedizen@lemmy.world 10 points 4 hours ago (1 children)

Republicans deregulate banks every time they get into office.

[–] TORFdot0@lemmy.world 1 points 23 minutes ago

They are against things like the CFPB but they aren’t getting rid of the FDIC which is the good faith backing of the US banking system. The 1% isn’t so liquid that they wouldn’t lose huge amounts of money with a full scale banking crisis