The Great Taking
- Thread starter Bushmaster69
- Start date
Bushmaster69
Superstar
FDIC Warns 68 US Banks in Danger of Insolvency, $300 billion in unrealized loses.
The great wealth consolidation progresses.
mastermind
Rest In Power Kobe
Wealthy people are doing horrors right in front of you in plain sight, yet you run to Youtube conspiracy theories.
Bushmaster69
Superstar
The Great Taking Exposes the Financial End Game
- January 2024
Bushmaster69
Superstar
Why Your Money May Not Be Safe in a Digital Bank, Even If It's FDIC-Insured
Fintech promises to combine innovation with the safety of traditional banks, but how trustworthy are those safety claims? The collapse of middleman Synapse has revealed the gaps in fintech's legitimacy. Let's take a look at the fine print of digital banking safety and what you need to know to...lifehacker.com
Many consumers believed that their money in fintech platforms was "as safe as money in the bank." However, this assumption has proven to be oversimplified. While FDIC insurance does apply to many fintech-linked accounts, it's important to understand its limitations. FDIC insurance is designed to make depositors of a failed bank whole, not to address issues with third-party platforms. So, if a non-bank fintech company implodes (like Synapse), the path to recovering funds becomes much more complicated.