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Ameriprise and Wells Fargo Sued Over Low Interest on Client Cash
News July 30, 2024 at 05:45 PM
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What You Need To Know
- At least four firms face legal action over their cash sweep program interest rates.
- Rates for sweep accounts at Vanguard and Interactive Brokers are much higher than at Ameriprise, a complaint details.
- In November, Wells Fargo disclosed an SEC inquiry concerning its sweep programs for certain account types.
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