The inquiry follows a disastrous second-quarter earnings report on July 30, 2026, which revealed a net loss of $42.1 million. This performance stood in stark contrast to the $12 million net income reported during the same period in 2025. The company attributed the reversal to a $68.8 million credit expense linked to an undisclosed CCBX partner relationship.

Investors reacted sharply to the news, driving the share price from $70.66 to $39.91 in a single session. Bleichmar Fonti & Auld is now reviewing whether statements made by the company regarding the stability of its partner relationships accurately reflected the risks involved in its digital banking operations. Shareholders affected by the decline are being evaluated for potential legal recourse through class action litigation.