NOT FOR REPRINT
Robinhood Is Latest Firm to Be Sued Over Cash Sweep Program
News October 28, 2024 at 02:44 PM
Share & Print
What You Need To Know
- The financial services company retains nearly all the returns its customers' cash generates, the lawsuit states.
- In 2023, Robinhood earned $120 million from the deposit sweep program.
- Customers are offered 0.01% on cash unless they pay a monthly fee.
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.
