When the Federal Reserve started raising its benchmark rates in 2022, banks kept paying very little on sweep accounts. That ...

The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have ...

(Reuters) -Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to ...

Bank of America’s brokerage unit reported strong growth, as did the company’s private bank, as executives are emphasizing ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...

Honda's U.S. financing arm was ordered on Friday by the U.S. Consumer Financial Protection Bureau to pay $12.8 million for ...

An ex-Merrill Lynch banker turned in-house deals expert lost a ruling over whether a raid of his home in the Paris suburb of ...

Merrill Lynch and Morgan Stanley executives on Thursday discussed plans to further tap in-house banking services in their ...

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

The Securities and Exchange Commission on Friday announced settled charges against registered investment advisers Wells Fargo Clearing Services ...

Merrill and Wells are facing a total of at least 11 lawsuits related to the interest rates in their cash sweep programs, and ...