Legal

Legal
Synapse Trustee McWilliams Details New Challenges in Latest Status Report
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. Get...

Legal
Report: Walmart and Capital One Settle Legal Battle
June 21, 2024

Walmart and Capital One have reportedly settled a lawsuit centering on their former credit card partnership. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily...

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Making Sense of For Benefit Accounts (FBOs) and FinTech’s Future
June 17, 2024

The recent Synapse bankruptcy represents one of the biggest implosions in the FinTech sector’s history. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...

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Report: Judge Expected to Reject Visa, Mastercard Swipe Fee Settlement
June 13, 2024

Credit card swipe fee litigation that has been fought for two decades is reportedly likely to remain unresolved for some time longer. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...

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UK Court Resolves Legal Dispute Between JPMorgan, Viva Wallet Founder
June 13, 2024

A Thursday (June 13) ruling by a London High Court judge reportedly resolved a legal dispute between J.P. Morgan Chase & Co. and Haris Karonis, the founder and CEO of Greek FinTech company Viva Wallet. Get the Full Story Complete the form to unlock this...

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SEC Seeks Federal Judge’s Approval of Settlement With Terraform Labs
June 12, 2024

The Securities and Exchange Commission reportedly asked a federal judge Wednesday (June 12) to approve a settlement with Terraform Labs. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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Synapse’s Specter of Commingled Funds Points to Issues in FinTech, BaaS Governance
June 12, 2024

If there’s a surety in FinTech, and particularly within banking as a service, it’s that there will be more regulations. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required....

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SEC, US Attorney Charge Joonko Founder Ilit Raz With Fraud
June 11, 2024

The founder of a now-closed artificial intelligence (AI) recruitment startup called Joonko is facing charges from both the Securities and Exchange Commission (SEC) and the United States Attorney’s Office for the Southern District of New York. Get the Full Story Complete the form to unlock...

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Synapse Hearing Highlights Frustration With Banking-as-a-Service Complexities
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 resolution. As a result, the hearing set the stage for what will be a complex...