Robinhood said to not be properly insured to offer checking & savings

Robinhood’s new high-interest, zero-fee checking and savings featureseems 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices