JPMorgan Is Latest to Be Sued Over Cash Sweeps

What You Need To Know

• A customer says JP Morgan Securities swept client cash into Chase accounts paying interest as low as 0.01%.
• The firm paid far below market rates on cash and pocketed the difference, in violation of its fiduciary duty, the suit alleges.
• It's the latest in a wave of lawsuits seeking damages against brokerages for sweeping cash into low-interest accounts as rates have surged.