Married with Love,Industrial engineer and Factory owner operator, Fan, fiction writer, enjoying the final vacation, Jimmy Carter forced me to become conservative and I enjoy hearing what people think from all around the country
I blew this off as a click bait scare "get your money out" story a couple days ago. Another reason is I refuse to add banking apps to my "Dumb Phone"
It seems 3 of these start up apps have locked some 85 thousand people out of their accounts with a possibility of another 10 million might be upcoming.
I'm not into the whole phone banking thing but here is the story
https://www.cnbc.com/2024/06/01/synapse-bankruptcy-yotta-accounts-locked.html
The ongoing Synapse bankruptcy mess has exposed the risks in a corner of fintech that grew in prominence during a boom in venture investment.
www.cnbc.comI've been told by Chase that my 2 step verification issues would be solved if I download the bank app to my phone. My issue is that I live on the side of a mountain with poor reception. Internet works 95% of the time. New 5G phone works 5% of the time.
Like smart phones will solve all our problems.. ha ha!
So Monday morning all 5 financial institution accounts required extra verification to log on.
So something is up.