Beam promised high-interest rates, but customers say they can't get to their money
Beam is a technology company that uses something known as a sweep account, a common and perfectly legal practice that “sweeps” Beam’s deposits into a network of FDIC-insured banks each day. Beam can collect interest or fees on those deposits, and pass those on to its customers. But now, customers are saying they can't get their money back. CNBC's Scott Cohn joins Shep Smith to discuss this CNBC investigation.