Investors Sue Charles Schwab Over Low-Paying Cash-Sweep Accounts

Three investors are suing Charles Schwab for alleged breach of fiduciary duty, claiming the institution designed its cash-sweep programme to present “outsized” benefits for itself astatine the disbursal of customers.

The suit was filed past week successful a national tribunal successful Los Angeles by Mary Loughran, Rosemary Orlando, and Edward Carr. The plaintiffs are seeking class-action presumption connected behalf of themselves and different Schwab customers.

The...

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