FDIC, SPIC: Who’s Protecting Your Assets?
Oct 29, 2020
2 minutes
The Federal Deposit Insurance Corp. covers bank deposits. The Securities Investor Protection Corp. protects brokerage accounts. But in December 2018, Robinhood, the brokerage firm and mobile app, announced that it was offering a high-interest checking and savings account insured by SIPC, and SIPC promptly challenged the claim. A day later, Robinhood said it would re-brand and re-name the product.
You’re reading a preview, subscribe to read more.
Start your free 30 days