Wells Fargo, Morgan Stanley and Bank of America are among a group of Wall Street banks accused of bilking customers out of billions of dollars in interest payments, according to a new report. The U.S. Securities and Exchange Commission is probing the banks to determine whether they purposefully directed clients...

Wells Fargo, Morgan Stanley and Bank of America Accused of Cheating Customers Out of Billions of Dollars in Interest Payments: Report

Your article was successfully shared with the contacts you provided. 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.

Schwab Used Cash Sweep Funds in TD Ameritrade Deal: Lawsuit

Fox Business

Investors' cash stockpiled in money market accounts hit a record $6.24 trillion in August, though looming interest rate cuts could lower returns and prompt outflows.

Cash in money market accounts at record level as rate cuts loom

Markets Insider

If even the slightest hint of recession fear has you uneasy, Charles Schwab says muni bonds are a safe place to invest.

4 reasons to snap up muni bonds amid flashing recession signals, according to Charles Schwab

Raymond James & Associates raised its stake in shares of Schwab U.S. TIPS ETF (NYSEARCA:SCHP – Free Report) by 31.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 85,162 shares of the company’s stock after purchasing an additional 20,163 shares during the period. Raymond James & Associates’ holdings in Schwab U.S. TIPS ETF were worth $4,429,000 as of its most recent SEC filing.

Raymond James & Associates Purchases 20,163 Shares of Schwab U.S. TIPS ETF (NYSEARCA:SCHP)

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

How Much Can You Deposit in a Checking Account?

Palm Beach, FL

Your article was successfully shared with the contacts you provided. A longtime Wells Fargo banker has accused the company’s advisory and brokerage businesses of sex discrimination, alleging in a new lawsuit that her high-producing boss verbally and emotionally abused her in a behavioral pattern directed only at female employees.

Fired Wells Fargo Banker Says Her Advisor Boss Abused Her

GOBankingRates

Nearly 65 million Americans rely on Social Security benefits to pay the bills and enhance their lifestyles in retirement. Factors like when they claim their benefit, the percentage of their income...

I’m a Bank Teller: 4 Mistakes Social Security Recipients Make

If you see something, say something — and if you’re an advisor, definitely say something. Starting in 2026, most advisory firms will be required to formally report suspicious money laundering activities to the US Treasury. Finalized last week, this new rule mandates that nearly 20,000 registered independent advisors, as well as exempt reporting advisers, implement an anti-money laundering program and notify the Financial Crimes Enforcement Network of any unusual transactions, according to a proposal.

Advisors Gear Up for Treasury’s New Anti-Money Laundering Rule

Direct depositing your paycheck can help you build wealth faster -- in more ways than you realize.  Find Out: How Can You Withdraw Money From a Bank Account? 3 Ways To Know Read More: 7 Reasons...

9 Ways To Make More Money When You Direct Deposit Your Paycheck

When purchased in tandem, these three investments offer everything needed in a retirement portfolio. Before they're done working, investors typically prioritize growth. After their work-based income ends, however, they want to focus more on income and capital preservation. They might also want to simplify their investments in retirement just so they can spend more time enjoying life.

These 3 Index ETFs Are a Retiree's Best Friend

While we adhere to strict editorial guidelines, partners on this page also provide us earnings. Just when you thought your mooching relatives got the message to bug off and let you retire in peace, along comes your dreaded, drooling Uncle Sam, eyes fixed on that seven-digit stockpile it took decades to build.

Hitting the $1 million milestone in your 401(k) isn’t as great as you think it is – and it's all down to a ticking tax time bomb — how to keep more of your hard-earned retirement savings

Forbes Advisor

Rates on savings accounts are rising. You can now earn 5.84% or higher on your savings. Searching for an account where you can put some money aside? Here’s a look at some of the best savings rates you can find today. Traditional Savings Account Rates Today. Traditional savings accounts,...

High-Yield Savings Account Rates Today: August 29, 2024

Your article was successfully shared with the contacts you provided. The takeaway for advisors from a new GAO report, according to Slott: More regulation is likely on the way. The CPA sees the report as yet another futile effort by regulators to protect consumers from bad actors. The enforcement mechanism...

Ed Slott: IRS' Cure for Conflicts Could 'Wipe Out' IRAs

TheStreet

These policy changes and retirement considerations can help ease concerns.

401(k) and IRA portfolio values increase, but retirement concerns remain

NBC News

Vice President Kamala Harris' endorsement of a Biden administration plan that includes a tax on stock holdings that have grown in value has emerged in recent weeks as a talking point among conservative pundits and Trump supporters who argue it amounts to socialism or even communism. Under the current system,...

Harris plans to tax unrealized stock gains — but only for people worth $100 million

A new report from JPMorgan Chase is shedding light on how many Americans can afford to pay for an emergency. An analysis of 5.9 million households with Chase bank accounts shows 8% are completely unable to cover a $400 “expense shock” – not even with their credit cards.

472,000 JPMorgan Chase Customers Can’t Pay $400 ‘Expense Shock’ by Any Possible Means – Including Credit Cards: Report

Wells Fargo agreed to sell the non-agency third-party servicing segment of its commercial mortgage servicing business to privately held Trimont. The deal makes Trimont the largest loan servicer in the U.S., it said. Wells Fargo is prioritizing "businesses that are core to [its] consumer and corporate clients," according to its...

Wells Fargo Sells Bulk of Commercial Mortgage Servicing Business To Trimont

SmartAsset

Transferring funds from a pre-tax retirement account such as an IRA to an after-tax Roth IRA is a move many retirement savers might want to consider. A Roth conversion, as the move is called, has many benefits. It can help you avoid required minimum distributions, or RMDs, in retirement, as well as taxes on your […] The post Is It Wise to Convert 20% of My IRA to a Roth Each Year to Avoid Taxes and RMDs? appeared first on SmartReads by SmartAsset.

Is It Wise to Convert 20% of My IRA to a Roth Each Year to Avoid Taxes and RMDs?

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Frequent Miler

Wells Fargo has extended a good promotion for new savings account customers. This offer is available in-branch only and gives a $525 bonus when depositing $25,000 and then maintaining that balance for 61 days. This is obviously a significant deposit requirement for many and there is some loss of interest on those funds while they are deposited in the savings account (more details below). That said, it could be an appealing option for those who can swing it.

Wells Fargo: $525 Bonus for New Savings Account (in-branch, no direct deposit required)

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Schwab Eyes Financial Advice as Cash Sweeps Dry Up

Financial advice may be back in style at Charles Schwab. For decades, the largest US publicly held brokerage has relied on cash-sweep programs that shuffle clients’...

Schwab Eyes Financial Advice as Cash Sweeps Dry Up

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