Fintech Business Weekly • 44 implied HN points • 22 Jun 25
- The CFPB is involved in a bankruptcy case for Synapse, which could lead to financial relief for depositors who lost money. They may use a fund designed to help consumers if they win a judgment against Synapse.
- Paddle had to pay a $5 million fine for its role in enabling tech support scams that tricked consumers, especially the elderly. Now, Paddle is banned from processing payments for such deceptive businesses.
- MoneyGram settled for $250,000 after allegations of mishandling customer money transfers. They must now follow consumer protection laws better to ensure timely transactions and accurate information.