NOT FOR REPRINT
Schwab Used Cash Sweep Funds in TD Ameritrade Deal: Lawsuit
News August 30, 2024 at 12:59 PM
Share & Print
What You Need To Know
- Schwab took for itself and its affiliates the vast majority of the compensation earned from its customers' cash, the suit states.
- The firm struck a deal to direct at least $50 billion to TD Bank through 2031, customers allege.
- The suit argues that Schwab violated its fiduciary duty to its cash-sweep customers.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
