How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts

When Natasha Craft first got a Yotta banking account in 2021, she loved using it so much she told her friends to sign up.

The app made saving money fun and easy, and Craft, a now 25-year-old FedEx driver from Mishawaka, Indiana, was busy getting her financial life in order and planning a wedding. Craft had her wages deposited directly into a Yotta account and used the startup’s debit card to pay for all her expenses.

The app — which gamifies personal finance with weekly sweepstakes and other flashy features — even occasionally covered some of her transactions.

“There were times I would go buy something and get that purchase for free,” Craft told CNBC.


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