Would CIBC cover Simplii if Simplii failed? | Page 3 | Simplii Financial | Discussion forum

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Would CIBC cover Simplii if Simplii failed?
February 7, 2022
4:28 pm
Loonie
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Norman1 said

COIN said
… Every distressed trust company was bought by a bank and no depositor lost money.

Can't rely on that.

None of the big banks would buy, for example, Home Trust or Equitable Bank. Home Trust and Equitable Bank are Alt-A lenders that specialize in loaning to borrowers who the big banks turned down.  

As of today, Equitable appears to have expanded its horizons with purchase of Concentra.
I agree though that the big banks will not likely want to acquire it, at least not yet.

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