How Millions of Americans Got Tricked Into Using a Bank That Isn't a Bank

$100 million went missing from an online bank. "Neobanks" promise higher rates and lower fees, but they exist in a regulatory black box created by Andreessen, Thiel, Musk and more. We investigated an online bank where thousands of Americans' FDIC-insured savings vanished. Host & Producer: Sanya Dosani Video Editor: Anthony Mascorro Motion Designer: Tom Van Deusen Videographers: Jack Belisle, Ryan Goble, Timothy Wolfer Video Production Manager: Isabel Atalaya Video Production Coordinator: Jodi Clemens Video Production Fellow: Astrid Dong Video Editing Fellow: Daria Nastasia Supervising Producer: Brady Welch ----- More Perfect Union is an Emmy-winning, nonprofit newsroom whose mission is to build power for working people. Here’s what that means: We report on the real struggles and challenges of the working class from a working-class perspective. We attempt to connect those problems to potential solutions. We report on the abuses and wrongdoing of corporate power. And we seek to hold accountable the ultra-rich who have too much power over America’s political and economic systems. To support our independent journalism, subscribe, donate, and follow our other pages through the links below: - Help fund our reporting: https://secure.actblue.com/donate/mpu-splash - Substack: https://substack.perfectunion.us/ - TikTok: https://www.tiktok.com/@moreperfectunion - Twitter: https://twitter.com/MorePerfectUS - Bluesky: https://bsky.app/profile/moreperfectunion.bsky.social - Facebook: https://www.facebook.com/MorePerfectUS - Instagram: https://www.instagram.com/perfectunion/ - Threads: https://www.threads.net/@perfectunion - Website: https://www.perfectunion.us