finance

Fidelity Investments has their own asset lending program called the Fully Paid Lending Program (FPLP). Fidelity's statement on collateralization provides more confidence than Robinhood's statement.

Fidelity says the loans are collateralized whereas Robinhood says they "aim" to have loans that are collateralized.

Fidelity
> The collateral will be equal to at least 100% of the value of the shares on loan.

Robinhood
> ...we aim to hold cash equal to a minimum of 100% of the value of your loaned stocks at a third-party bank.
> In some circumstances, the collateral held on your behalf may not equal or exceed the value of loaned securities.

https://www.fidelity.com/trading/fully-paid-lending

I'm realizing every major brokerage has an asset lending program that is overcollateralized with cash. 

- Charles Schwab: https://www.schwab.com/securities-lending
- E*Trade: https://us.etrade.com/what-we-offer/our-accounts/fully-paid-lending

Some search terms used to find these
- "Brokerage lending program"
- "Brokerage stock lending"
- "Brokerage securities lending"
- "Brokerage asset lending"

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Some search terms used to find these
- "Brokerage lending program"
- "Brokerage stock lending"
- "Brokerage securities lending"
- "Brokerage asset lending"

https://search.brave.com/search?q=Brokerage+lending+program&summary=1&summary_og=2705edb2dacd3af82bc89d