On February 6, 2025, FinTech customers have motioned to appoint Emery | Reddy Attorney Timothy W. Emery as one of the attorneys who will represent them in a suit against banks complicit in the loss of millions of dollars.
AMG National Trust, Evolve Bank & Trust, Lineage Bank, and American Bank, Inc. are all banks that backed several FinTech companies through a middleman company called Synapse, which went bankrupt last spring. Since then, FinTech customers have been seeking their funds from the aforementioned banks to no avail.
After months of pointed fingers from the FinTechs to Synapse to the banks, dissatisfied consumers have decided to consolidate the total of five suits against the banks into one combined action. Additionally, AMG National Trust is attempting to capitalize on the time between the motion and an upcoming hearing to exit the matter on the claim that there is no factual evidence of their involvement in the allegations. Customers have requested that the court first rule on consolidation before allowing AMG to slip out of case.
A hearing has been scheduled by U.S. Magistrate Judge N. Reid Neureiter for Tuesday, February 18, 2025 in order to consider the co-counsel and consolidation bids. Learn more here.
