Friday
July 19
2024

How Thousands of Americans Got Caught in Fintech’s False Promise and Lost Access to Bank Accounts

By Hugh Son

When Natasha Craft first got a Yotta banking account in 2021, she loved using it so much she told her friends to sign up.

The app made saving money fun and easy, and Craft, a now 25-year-old FedEx driver from Mishawaka, Indiana, was busy getting her financial life in order and planning a wedding. Craft had her wages deposited directly into a Yotta account and used the startup’s debit card to pay for all her expenses.

Photo courtesy of Ashwini Chaudhary.

Source: CNBC (link opens in a new window)

Categories
Finance, Technology
Tags
digital finance, digital payments, failure, fintech