Charles Schwab Corp. has dropped a fight to require customers to waive their rights to participate in class action lawsuits, the company said on Thursday. Schwab, the San Francisco-based pioneer discount brokerage, has agreed to pay $500,000 to the Financial …
Scrambling to plug revenue holes created by crackdowns on credit card fees and falling brokerage commissions, big U.S. banks are pushing a strategy they’ve tried with limited success in the past – cross-selling products. They are inducing their stockbrokers to …
Charles Schwab Corp. has temporarily reversed its requirement that clients waive their right to bring class-action lawsuits, adding a new twist in a battle closely watched by the securities industry and plaintiffs’ attorneys. “Effective immediately, Schwab is modifying its account …
Charles Schwab Corp. can ban its clients from bringing class action lawsuits, a securities industry regulatory panel ruled Thursday in a sweeping decision that is likely to influence other U.S. brokerage firms to follow Schwab’s policy. Schwab last year told …
The American Civil Liberties Union is filing what it says is the first lawsuit against an investment bank, Morgan Stanley, alleging discrimination for packaging subprime mortgage loans into securities. The ACLU and other plaintiffs will file the case on behalf …
Sanford “Sandy” Weill, the tycoon who built financial conglomerate Citigroup Inc. into a massive U.S. commercial and investment bank, said it is time to split up the biggest banks so they can go back to growing again. The comments were …
