66
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 16 Oct 2023
66 points (78.9% liked)
Apple
17435 readers
81 users here now
Welcome
to the largest Apple community on Lemmy. This is the place where we talk about everything Apple, from iOS to the exciting upcoming Apple Vision Pro. Feel free to join the discussion!
Rules:
- No NSFW Content
- No Hate Speech or Personal Attacks
- No Ads / Spamming
Self promotion is only allowed in the pinned monthly thread
Communities of Interest:
Apple Hardware
Apple TV
Apple Watch
iPad
iPhone
Mac
Vintage Apple
Apple Software
iOS
iPadOS
macOS
tvOS
watchOS
Shortcuts
Xcode
Community banner courtesy of u/Antsomnia.
founded 1 year ago
MODERATORS
I would guess the savings accounts just aren't bringing in as much in deposits and there are more small accounts and higher operational costs than they planned for.
$10B US in deposits in the first four months of existence
There’s been no indication at all that the savings accounts themselves are unprofitable. This article combined a journalistically negligent misquote from a single person at the internal announcement of the savings accounts with fuzzy numbers about previous provisions for future losses from the credit card. If they had any integrity, they’d just delete the whole article.