Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay ...

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S.

Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and ...

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

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

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

Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling ...

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

The firms failed to consider the best interests of clients when selecting cash sweep programs, the agency said.

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

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