letswalk.com wrote:
I wonder how widespread the fallout will be. It’s likely high interest rates will “expose” more companies in the coming months.
I had a business account with them, thankfully well below the FDIC limit. Can’t access my account right now and waiting to see how things unfold tomorrow when FDIC said it will start making deposit funds available.
This incident doesn’t appear to be a ringer for wider contagion to me, and seems more like an isolated case of mismanagement.