Robinhood’s new high-interest, zero-fee checking and savings feature seems to be too good to be true. Users’ money may not be fully protected. The CEO of the Securities Investor Protection Corporation, a non-profit membership corporation that insures stock brokerages, tells TechCrunch its insurance would not apply to checking and savings accounts the way Robinhood claims.

Topics:  ceo   securities investor protection corporation    but harbeck   december   january   sutton bank    disclosure   vlad tenev   robinhood   sec   sipc   harbeck   bhatt   baiju bhatt    but   mastercard   atms   offer   checking   savings   properly insured   users   money   accounts   protected   issue   interest   insurance   customers   team   market   feature   tells   cover   fees   account   sharing   treasuries   insures   yesterday   apply   rate   banks   top   stock   techcrunch   million   brokerages   claims   billion   standard   year   brokerage   told   invests   doesn   valuation   planned   decline   assets   debit   loans   percent   larger   wouldn   
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