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Stock impact report

Robinhood, Moving Beyond Meme Stocks, Now Wants to Be Your Bank [Yahoo! Finance Canada]

Coastal Financial Corporation (CCB) 
Last coastal financial corporation earnings: 4/27 09:25 am Check Earnings Report
Most Read from Bloomberg Robinhood will roll out checking and savings accounts later this year to its paying “Gold” subscribers, but with a few twists. The Menlo Park, California-based firm aims to be less of a traditional bank for its customers and more of a private banking-like experience, according to Deepak Rao, vice president and general manager of Robinhood Money. “You get these crazy products, you get really high interest rates,” Rao said in an interview. “Why don't we do that, but we give it to everybody?” While Robinhood is introducing bank-like services, it's not an FDIC-insured bank itself. Instead, it will work with a partner institution to offer Federal Deposit Insurance Corp. protection on consumers' money. The company said on its website that banking services will be provided by Coastal Community Bank. The annual percentage yield on the high-yield savings account will likely hover around 4% when the product rolls out, customers will have access to estate planni Show less Read more
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