{"asOf":"2026-09-05","merchant":"SSDF INC","kind":"event","id":"evolve-fed","date":"2024-06","title":"Federal Reserve C&D — Evolve Bank & Trust","kicker":"Sponsor bank","body":"Federal Reserve cease-and-desist against Evolve, a primary Synapse partner bank, citing ineffective risk management of fintech partnerships. Partnership agreements that assigned compliance to the fintech did not move the order off the bank.","clerk":"Federal Reserve","cites":["Board of Governors cease-and-desist, Evolve Bank & Trust, June 2024 — confirm on federalreserve.gov."],"notes":["Class actions later named Evolve and Lineage. Litigation status is a watch item, not a SKU of liability."]}