WASHINGTON, DC - JUNE 6: The Federal Deposit Insurance Corporation (FDIC) entrance located across from the Eisenhower Executive Office Building is seen on June 6, 2017 in Washington, DC The nation's capital, sixth-largest metropolitan area in the country, it draws millions of visitors each year to its historic sites, including thousands of schoolchildren during the month of June. (Photo by George Rose/Getty Images)

Fintechs exploit considerations in regards to the FDIC’s restricted insurance coverage for deposits

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Some fintechs are rolling out extra insurance coverage to their deposit accounts to supply extra peace of thoughts for people and companies within the wake of the current banking turmoil. This month, SoFi Applied sciences, Inc. (SOFI), Mercury and Crescent launched deposit merchandise that cowl greater than the usual $250,000 insurance coverage assured by Federal …

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