Banks connected to the collapse of Synapse are reportedly close to recovering customers’ frozen funds. These banks have made progress in putting together account information for those customers, which could mean their funds being released within weeks, CNBC reported Thursday (July 11), citing a source briefed on the matter....
It’s one step up and two steps back in the case of Synapse Financial’s bankruptcy, with the court-appointed trustee reporting progress Friday (June 21) in recovering and distributing customer funds. However, serious reconciliation challenges remain, according to the latest status report in the case. Trustee...
The drama surrounding the Synapse Financial bankruptcy continued Friday (June 7) with an afternoon court hearing in California’s Central District Bankruptcy Court, although the case appeared no closer to a resolution. As a result, the hearing set the stage for what will be a complex...
Former Federal Deposit Insurance Corp. Chair Jelena McWilliams will present her initial findings as trustee of Synapse’s Chapter 11 bankruptcy case Friday afternoon (June 7). Ahead of the hearing, a status report filed Thursday (June 6) with the bankruptcy court in California laid out a...
June 24, 2024
It’s one step up and two steps back in the case of Synapse Financial’s bankruptcy, with the court-appointed trustee reporting progress Friday (June 21) in recovering and distributing customer funds. However, serious reconciliation challenges remain, according to the latest status report in the case. Trustee Jelena McWilliams told the Central California Bankruptcy Court that partner […]
June 10, 2024
The drama surrounding the Synapse Financial bankruptcy continued Friday (June 7) with an afternoon court hearing in California’s Central District Bankruptcy Court, although the case appeared no closer to a...
December 19, 2024
The Federal Reserve Board has announced an enforcement action against Franklin, Tennessee-based Lineage Financial Network, the bank holding company of Lineage Bank. The Fed said in a Thursday (Dec. 19) press release that the Federal Deposit Insurance Corporation (FDIC) separately issued an enforcement action with Lineage Bank in January and that the Fed’s enforcement action is independent of the […]
July 11, 2024
Banks connected to the collapse of Synapse are reportedly close to recovering customers’ frozen funds. These banks have made progress in putting together account information for those customers, which could mean their...
February 14, 2022
Partnership banking platform Synctera has announced a launch between Lineage Bank and GoGetr, the first such arrangement using the company’s capabilities, according to a Monday (Feb. 14) press release. Synctera’s...
