Bison Bank and possible Sanctions?

[doughowe (Douglas Howe)]

Hello RJ. Yes, in fact I read it here on NG. The link is at:

Bison bank stipulations and concerns

I’m trying to open an account with Bison bank. They have been very helpful in guiding us in the process. During our meeting we were assured that our securities are safe even if Bison goes bankrupt. But when I read the general conditions, I saw a couple of terms that concerned me. By default Bison Bank can loan our securities to themselves. We have to inform them if we want to opt out of this. If Bison bank becomes bankrupt, while they have our securities through loan, then the securities are…

I’m not saying the information in this link is accurate. In fact, I’d like to know more about whether it is accurate or not. In particular, has anyone dealt with the issues mentioned in the lined convo?

Thanks