They say it only impacts you if your registered address is in the US, cards with non-US addresses will continue to work even in the US.

Reading between the lines they were told to stop serving US customers by some regulatory agency. Clearly not a technical or upstream bank issue.

No, they are a reputable company. This is just a routine change in the underlying bank they use for transfers.

The announcement (including title) clearly mentions this about Cards, not the account itself.

Well it is a rug pull.