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IIRC this is what Robinhood did when they tried to launch their 3% APY account. I guess where they went wrong was calling it a “checking and savings account”? I
by tempsy 7y ago
IIRC this is what Robinhood did when they tried to launch their 3% APY account. I guess where they went wrong was calling it a “checking and savings account”? I thought they also got in a bit of hot water with the SIPC because the insurance isn’t meant to insure “checking account” like products, which is essentially what this is, no?
- deleted 7y ago[deleted]
- perl4ever 7y agoBased on what I read, the problem was not which magic words were used, but the nature of the product.