Submission + - Online-only lenders and bank insurance
Typing_Ptarmigan writes: Online-only lenders' ties to bank insurance can be tenuous.
"The turmoil was set off this spring with the bankruptcy of Synapse Technology, the kind of company you’ve probably never heard of unless you suffered through all the fine print of your account statements. It operated banking software for fast-growing online lenders with names like Juno, Yieldstreet and Yotta."
https://www.seattletimes.com/b... (July 14, 2024)
Original (paywalled) July 09, 2024 article: https://www.nytimes.com/2024/0...
"The turmoil was set off this spring with the bankruptcy of Synapse Technology, the kind of company you’ve probably never heard of unless you suffered through all the fine print of your account statements. It operated banking software for fast-growing online lenders with names like Juno, Yieldstreet and Yotta."
https://www.seattletimes.com/b... (July 14, 2024)
Original (paywalled) July 09, 2024 article: https://www.nytimes.com/2024/0...
