Re:SVB lobbied the government to relax some Dodd-Frank provi...
by JumpCrisscross on Sunday March 12, 2023 @07:09AM
(#35118748)
> what you're saying is people should open a new account for every $250k they have, so their money is insure
This is over the top. Sure, use a sweep to get ~$3mm insured. But just have a second account.
Loads of start-ups got screwed because they didn’t have a second account and opening a new business checking account takes time. (Not strictly true: a simple Board authorisation should allow for an emergency transfer to a personal bank account.)
This is over the top. Sure, use a sweep to get ~$3mm insured. But just have a second account.
Loads of start-ups got screwed because they didn’t have a second account and opening a new business checking account takes time. (Not strictly true: a simple Board authorisation should allow for an emergency transfer to a personal bank account.)