Technology

59710 readers

5603 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

295

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

submitted 1 week ago by [email protected] to c/technology

81 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 7 points 1 week ago (1 children)

Exactly. The combination of "bank" and "startup" is innately terrifying. Don't put more money than you can afford to lose in a place like that.

(Aren't there any laws in the US regarding who can call themselves a bank? Or is this another case of Americans being unwilling to do something sane and obvious because some politician has convinced them it will infringe on their "freedom"?)

[–] [email protected] 4 points 6 days ago

Yes and no. Banks are strictly regulated. But that's why companies like Paypal continually remind people that they are not a bank, so they can escape that regulation.