07.25.24 INVESTMENT WARNING: Private Placements / When Is A Bank NOT A Bank?
The Clark Howard Podcast
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Risk of Disappearing Funds in Fintech Apps and Importance of Safeguarding Assets
The chapter discusses the alarming disappearance of funds from fintech apps claiming FDIC insurance, highlighting the risks consumers face when using such platforms. It also emphasizes the importance of safeguarding assets through proper banking and insurance practices, including the protection offered by 401ks over IRAs and liability coverage through insurance policies. Additionally, it delves into the challenges faced by individuals with unique names when dealing with financial institutions' rigid systems.
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