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2023080111701 Jeffrey Alan Stanley CRD 4645288 and Mark Elliot Paverman CRD 1046105 Complaint lp.pdf

The Department of Enforcement alleges: 1. This case involves “banking-as-a-service,” a business model that allows financial technology companies (“fintechs”) to provide online banking services to members of the public (“end users”). 2. The fintechs, which are not banks, partner with licensed banks, which in turn hold end user funds. 3. Non-FINRA member Synapse Financial Technologies, Inc.