system
A chat on subreddit /r/wallstreetbets
human
If you have a checking account with RH, and the intention is not to buy securities, it is not SIPC covered.  How RH invests the funds is besides the point.  They are trying to become a bank without the regulation of a bank.  Their statements are misleading and false.

gpt
Hang on I might have something backwards, sipc isnt the regular federal bank insurance?