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Home / Columnists / Berko / BERKO: Schwab’s clean sweep (access required)

BERKO: Schwab’s clean sweep (access required)

Dear Mr. Berko: Charles Schwab is forcing all customers out of sweep money market funds and into bank accounts. My current sweep account pays 0.88 percent, and the bank account pays a lousy 0.1 percent. Schwab is giving us no choice in this matter. It claims it has something to do with the Dodd-Frank reforms, ...

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