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Americans hold ‘billions’ in uninsured accounts, federal agency warns. Here’s what you can do about it.

Por: MarketWatch Business June 04, 2023

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Use of non-bank payment apps such as PayPal , Venmo, and Cash App have rapidly grown in the past few years, but don’t provide the same protection as funds deposited with banks and credit unions protected by federal deposit insurance through the Federal Deposit Insurance Corporation or National Credit Union Administration, the CFPB said. “Popular digital payment apps are increasingly used as substitutes for a traditional bank or credit union... + full article



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