The collapse of a fintech firm with 10 million users has left many Americans without access to their money
www.nbcnews.com
A court dispute has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks.

They are keeping this quiet, but this affects 2.9% of US bank customers.

  • slazer2au@lemmy.worldEnglish
    1·
    4 months ago

    o.O so it’s not a bank that has failed, rather a banking middleman who provides Banking as a Service (BaaS)

    Look, if silicon valley bank collapse didn’t trigger a meltdown then this wont either.

    • shortwavesurfer@monero.townOPEnglish
      01·
      4 months ago

      Silicon Valley Bank was bailed out entirely by the FDIC. And so there were no liquidity issues. 2.9% of real people have been able to not access their money this time. That did not occur last time.