Wells Fargo, Merrill to Pay $60 Million Penalties Over Cash Sweep Accounts: SEC
Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...
Wells Fargo and Bank of America Agree to Pay Combined $60 Million to Settle SEC Probe
In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...
Banks Scrimped on Customer Interest. Now They’re Paying for It.
When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...
Investment Executive20h
Firms shortchanged cash sweep clients: SEC
According to the regulator’s orders — between 2018 and 2024 for Wells Fargo, and between 2022 and 2024 for Merrill Lynch — ...
SEC enforcement blitz targets 7 financial firms as Biden administration winds down
The SEC disclosed 7 actions against alleged misbehavior with only three days left for the Biden administration.
WealthManagement.com21h
SEC Charges Pennsylvania Advisor Who Used Client Funds on Country Club Dues
Scott J. Mason of Rubicon Wealth Management defrauded at least 13 advisory clients out of more than $20 million, spending it ...
Analysts Offer Insights on Financial Companies: Bank of America (BAC) and RLI (RLI)
Analysts have been eager to weigh in on the Financial sector with new ratings on Bank of America (BAC – Research Report) and RLI (RLI – ...
Q4 2024 Schlumberger NV Earnings Call
Stephen Gengaro; Analyst; Stifel Nicolaus and Company, Incorporated ...
Morningstar21h
Bank of America Corp BAC
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