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
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    10 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
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      10 hours ago

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

      • whithom
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        9 hours ago

        Four? Hah… you make me laugh. He’s never leaving

        • CarbonIceDragon@pawb.social
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          9 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
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            9 hours ago

            His father made it to 93. So, he has 15 more years.

              • whithom
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                7 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
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                  7 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.

                  • whithom
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                    7 hours ago

                    Regardless, he’s not close to death.

    • BigMacHole@lemm.ee
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      10 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!