There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors are owed, according to the court-appointed trustee in the Synapse bankruptcy.

“If a fintech partner went bankrupt or had other issues, we are in control of those deposits,” said Teri Hodgett, chief risk officer at Sunrise Banks, at left. Reid Whiting, chief banking officer of ...