IIRC this is what Robinhood did when they tried to launch their 3% APY account. I guess where they went wrong was calling it a “checking and savings account”? I thought they also got in a bit of hot water with the SIPC because the insurance isn’t meant to insure “checking account” like products, which is essentially what this is, no?
Ok, so how is Brex different in this case? Both are effectively checking accounts, except one is for businesses and the other was for retail customers.
