Re:Americans see their savings vanish in Synapse fintech crisis
by lxgr on Saturday November 23, 2024 @07:54PM
(#42225162)
That's not true in the US generally (FDIC "pass-through insurance" is a thing).
The problem here wasn't a lack of FDIC insurance, but rather a lack of record keeping that allowed attribution of insured balances to individual beneficiary account holders.
The problem here wasn't a lack of FDIC insurance, but rather a lack of record keeping that allowed attribution of insured balances to individual beneficiary account holders.