Brokerage firms may seek to sweep cash into affiliated banks, often paying low interest rates. According to some reports, brokers could make 10 times more than their customers do on their cash.
Analyst Betsy Graseck from Morgan Stanley maintained a Buy rating on Wells Fargo (WFC – Research Report) and keeping the price target at ...
Two Wall Street titans are shelling out a combined $60 million to the U.S. Securities and Exchange Commission for allegedly ...
Wells Fargo (WFC), Goldman Sachs (GS), Citigroup (C), Bank of America (BAC), and Morgan Stanley (MS) all beat estimates, instilling confidence that the Financials sector earned its 28% performance ...
The pair preach teamwork as the banking giant plunges further into different aspects of a housing market in desperate need of ...
Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and ...
Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay ...
The Federal Reserve is withdrawing from an environmental group for global central bankers. The Fed joined the group, the Network of Central Banks and Supervisors for Greening the Financial System, in ...
When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...
According to the regulator’s orders — between 2018 and 2024 for Wells Fargo, and between 2022 and 2024 for Merrill Lynch — ...
Scott J. Mason of Rubicon Wealth Management defrauded at least 13 advisory clients out of more than $20 million, spending it ...
Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...
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