you use a money app for purchases at online stores and currently have $500 in your account. during the day…

you use a money app for purchases at online stores and currently have $500 in your account. during the day news reports state the money app you use has gone out of business. which agency protects your money? choose 1 answer: a none of them b consumer financial protection bureau (cfpb) c federal deposit insurance corporation (fdic)

you use a money app for purchases at online stores and currently have $500 in your account. during the day news reports state the money app you use has gone out of business. which agency protects your money? choose 1 answer: a none of them b consumer financial protection bureau (cfpb) c federal deposit insurance corporation (fdic)

Answer

Answer:

A. none of them

Brief Explanations:

The FDIC insures deposits in banks, not funds in a money - app that goes out of business. The CFPB focuses on consumer financial protection in general but doesn't directly insure such funds. So, in this case, no agency listed protects the money.