Michael Roddan

Millions of consumers who kept their savings with digital banking startups such as Yotta or Juno have lost access to their money as a result of this month’s collapse of a little-known fintech called Synapse Financial Technologies. Synapse, which supplies some of the basic plumbing that allows startups to offer banking services, filed for bankruptcy protection in early May amid accusations from numerous onetime fintech clients and banks that tens of millions of dollars are unaccounted for.

Apple is shutting down its buy now, pay later operations that allowed customers to pay off purchases of up to $1000 in installments.Instead, Apple will offer installment loans through credit and debit cards and other lenders including buy now, pay later fintech Affirm when customers use Apple Pay, according to the company. The rollout will result in the closure of Apple Pay Later in the

Shortly after HSBC swooped on the carcass of Silicon Valley Bank in March of last year, picking up around 50 U.S. bankers and an $8 billion U.K. loan book, the London-headquartered bank’s management drew up plans to win over the biggest venture capitalists in the U.S. that had historically been SVB customers.

From left: Court Coursey, Eric Schmidt and Derek Rundell. Photos by Getty.

The former Google CEO once said Steel Perlot, founded by his then-girlfriend Michelle Ritter, could become a new kind of Y Combinator. Now Ritter blames Schmidt for the firm’s unraveling, while former employees point to Ritter’s erratic management.

Zillow leans heavily on an invite-only circle of real estate agents to send home buyers to its lending business. Critics of that arrangement say the real estate listing giant risks running afoul of mortgage lending and consumer marketing laws.

TikTok over the last year has been encouraging more creators to livestream, where they can sell products or earn digital gifts that convert to cash. To beef up its European business, it’s been trying to build out its payments functions. But these efforts have hit some snags.

For more than two decades, Wells Fargo was a juggernaut in a behind-the-scenes business that supported some of the biggest payments companies in the world. The bank’s abrupt exit from that market this year has left a major hole.

The Securities and Exchange Commission hit JPMorgan with a $151 million civil penalty for five separate actions related to failures in the bank’s securities and investment management subsidiaries.The SEC on Thursday said investors in some of JPMorgan’s private funds products were exposed to undisclosed risks because the bank decided when it would sell shares in companies that went public, or

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