SVB lobbied the government to relax some Dodd-Frank provisions

Re:SVB lobbied the government to relax some Dodd-Frank provi... by smsm42 on Sunday March 12, 2023 @01:33AM (#35117398)

There needs to be a startup allowing to distribute deposits between bank accounts and operate them as single aggregate account. So that other startups won't keep their money all in the same bank. Not sure if I'm kidding or not.

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Re:SVB lobbied the government to relax some Dodd-Frank provi... by jen20 on Sunday March 12, 2023 @04:58AM (#35118139)

https://www.intrafi.com/

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Re:SVB lobbied the government to relax some Dodd-Frank provi... by JumpCrisscross on Sunday March 12, 2023 @07:09AM (#35118750)

> needs to be a startup allowing to distribute deposits between bank accounts and operate them as single aggregate account

This is a common banking feature called sweep.

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Re:SVB lobbied the government to relax some Dodd-Frank provi... by CPLX on Sunday March 12, 2023 @07:36AM (#35118952)

This has been around since there has been FDIC insurance.

This whole thing reminds me of the regular phenomenon where people in Silicon Valley think they are geniuses because they discovered SRO’s or buses or the fact that you can dig tunnels in the ground for cars or something.

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Re:SVB lobbied the government to relax some Dodd-Frank provi... by smsm42 on Sunday March 12, 2023 @04:22PM (#35125717)

I know this exists, I have an account like that. The question is why people aren't using it more then?

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