It also depends on whether and how the funds actually made it to the FDIC insured institution. If Chime didn’t deposit the funds or if the funds weren’t deposit

It also depends on whether and how the funds actually made it to the FDIC insured institution. If Chime didn’t deposit the funds or if the funds weren’t deposited in a segregated custody account FBO Chime customers (as opposed to co-mingled with Chime’s corporate cash) then it’s a lot less of a guarantee because they could be tied up with potential creditor claims to Chime’s cash. That being said, the article makes me think this is the custody bank’s AML process at work and Chime wasn’t prepared for the customer service aspect of on-boarding a bunch of “high risk” clients and then almost immediately having those accounts closed due to the risk assessment.