Following criticism, Robinhood backtracks on checking and savings feature

Dec 15 2018 by The Verge

 

Earlier this week, stock-trading app Robinhood announced that it would offer a new feature to users in early 2019: a checking and savings account that didn’t have any fees attached to it. But after the feature received intense criticism, the company appears to have backtracked, saying that it plans “to work closely with regulators as we prepare to launch our cash management program.”

Launched in 2014, the company allowed users to trade stocks on companies listed on the US stock...

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