During a panel discussion at American Banker's Digital Banking conference last week, experts from American Commerce Bank discussed the launch of its virtual banking platform and theorized why other executives might be slow adopters.

The fintech has spent years trying to get a banking license from U.K. regulators that would allow it to expand its offerings in its home country.

Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, told Synapse's partner banks, fintech companies and investors to pool together resources to immediately restore customer's access to deposits frozen in lengthy bankruptcy proceedings.

The Tennessee bank is the latest to be punished for lapses in oversight of fintech partners. Unlike most FDIC consent orders, the filing liberally uses the terms "fintech" and "BaaS."

Leaders that have created virtual "branches" weighed in at American Banker's Digital Banking conference on how to approach implementation and what results have been like.

The bankruptcy of fintech middleware provider Synapse has left thousands of customers unable to access their savings, with seemingly no one empowered to put it back in their hands. Regulators and lawmakers need to do something about it, but first they need to talk about it.

Customers caught up in the Synapse bankruptcy are met with deafening silence from Washington as they discover their savings — or what is left of them — are held in accounts that fall between the cracks of the bank regulatory apparatus.

The former head of Square Banking at Square is one of American Banker's 2024 Most Influential Women in Fintech.

The CEO and founder of SpringFour is one of American Banker's 2024 Most Influential Women in Fintech.

The Co-founder and CEO of Stratyfy is one of American Banker's 2024 Most Influential Women in Fintech.