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Robinhood Takes Another Shot at Banking

By Carleton English
· · Source: The Information

Robinhood is once again trying its hand at banking. The stock trading app said Tuesday it was launching a new product, called Cash Management, to allow users to earn 2.05% interest on uninvested cash in their Robinhood accounts. The move comes 10 months after Robinhood’s efforts to offer checking and savings accounts failed after it wrongly assumed that cash in user accounts would be insured...

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