Part 5/7:
Turning to the world of fintech, Hill addressed Robinhood's ambitious yet misguided attempt to offer checking and savings accounts with zero fees and a remarkable 3% interest rate. However, faster than the announcement could generate excitement, regulatory bodies quickly intervened.
Mann revealed that Robinhood faces scrutiny for operating outside the parameters of banking regulations and likened the situation to a larger trend within tech-driven finance companies that may push boundaries without fully understanding existing laws.