If it is not FDIC insured, it should be clearly stated. Otherwise it is fraudulent misrepresentation.
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Robinhood debate highlights the difference between FDIC and SIPC protectionWhile accounts that promise as much as 3 percent interest might catch your eye, you need to be careful about how your money is protected. You may wanna edit this since you go SIPC wrong in your tweet.... some may start the discrimination train up...
Source: CNBC - 🏆 12. / 72 Read more »
SIPC Head Has Concerns About Robinhood’s Checking and Savings ProductsRobinhood recently announced new high-interest checking and savings-account products and said they were insured by the SIPC. But now the head of the SIPC says Robinhood didn't contact the organization before releasing the products, and he has major concerns with them.
Source: Forbes - 🏆 394. / 53 Read more »
SIPC Head Has Concerns About Robinhood’s Checking and Savings ProductsRobinhood recently announced new high-interest checking and savings-account products and said they were insured by the SIPC. But now the head of the SIPC says Robinhood didn't contact the organization before releasing the products, and he has major concerns with them.
Source: Forbes - 🏆 394. / 53 Read more »
In A Bold Asset Grab, Robinhood Offers 3% Interest On Checking And Savings AccountsFollowing in the footsteps of other fintech startups, Robinhood is entering the checking and savings accounts business. But in a bold marketing move, it's offering 3% interest on both checking and savings accounts, the highest rate on the market.
Source: Forbes - 🏆 394. / 53 Read more »
In A Bold Asset Grab, Robinhood Offers 3% Interest On Checking And Savings AccountsFollowing in the footsteps of other fintech startups, Robinhood is entering the checking and savings accounts business. But in a bold marketing move, it's offering 3% interest on both checking and savings accounts, the highest rate on the market. What do they intend to do with the money to make a return on their interest payment? What's the catch? Wouldn't give them a cent unless they are Federally Insured.
Source: Forbes - 🏆 394. / 53 Read more »