Federal Bank Regulators Won't Rescue Fintech Customers Caught In Synapse Bankruptcy [Forbes]
AMER BANK INC (PA) (AMBK)
US:NASDAQ Investor Relations:
ambk.com/about-us/investor-relations
Company Research
Source: Forbes
Federal bank regulators are not coming to rescue the thousands of fintech customers who have lost access to their money during the unfolding bankruptcy of banking-as-a-service provider or the millions more who are at risk. That was the grim news delivered in a five-hour hearing today before U.S. Bankruptcy Court Judge Martin R. Barash, of the Central District of California. Earlier this week, he'd to step in to protect “everyday people'' and avoid a “potential disaster.” The most immediate cause of pain for individual consumers is a dispute between bankrupt Synapse and one of its bank partners, Arkansas-based Evolve Bank & Trust. That disagreement has left customers of fintechs Yotta Technologies, Juno Finance and unable to access the money in their accounts or use the credit and debit cards tied to them since May 11th. But Assistant U.S. Attorney Elan Levey, representing the U.S. Trustee (the arm of the Justice Department involved in bankruptcy cases), said she had investigate
Show less
Read more
Impact Snapshot
Event Time:
AMBK
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
AMBK alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
AMBK alerts
High impacting AMER BANK INC (PA) news events
Weekly update
A roundup of the hottest topics