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"The change also raised more questions about the future of Robinhood’s cash management accounts, which attracted the attention of U.S. senators after it was rev
by rfinney 8y ago
"The change also raised more questions about the future of Robinhood’s cash management accounts, which attracted the attention of U.S. senators after it was revealed that Robinhood had not consulted federal regulators about insuring the cash accounts."
https://www.marketwatch.com/story/robinhood-quietly-stops-users-from-signing-up-for-cash-accounts-amid-scrutiny-from-regulators-2018-12-31 https://www.marketwatch.com/story/robinhood-quietly-stops-us...
Turns out it was a gimmick.
- orthecreedence 8y agoI think he was talking about the very beginning of Robin Hood, as in a no-commissions stock trading app, not the recent Robin Hood savings account debacle. That said, Robin Hood will now forever in my mind be painted as "the company who didn't check with their lawyer before they started a bank."