How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts
When Natasha Craft first acquired a Yotta banking account in 2021, she beloved utilizing it a lot she instructed her associates to enroll.
The app made saving cash enjoyable and straightforward, and Craft, a now 25-year-old FedEx driver from Mishawaka, Indiana, was busy getting her monetary life so as and planning a marriage. Craft had her wages deposited straight right into a Yotta account and used the startup’s debit card to pay for all her bills.
The app — which gamifies private finance with weekly sweepstakes and different flashy options — even often lined a few of her transactions.
“There have been occasions I might go purchase one thing and get that buy totally free,” Craft instructed CNBC.
