How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts

(CNBC, 7/2/2024) How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts.

This is horrifying. The fintech didn’t open individual accounts for their customers with the banks, but bought “blocks” of deposit space and tried to keep track of the customer entitlements internally… but then they went out of business. A total nightmare.