Charlotte-based Bank of America subsidiary Merrill Lynch settles retirement sweep suit for $39 million.

The $39 million settlement comes after claims that Merrill Lynch underpaid its brokerage customers.

The financial advice industry has been facing inquiries into its cash sweep programs for years now. The SEC has been focused ...

Key Stats for Bank of America StockPrice change for Bank of America stock in last 6 months: 10%$BAC Stock Price as of Sep. 30 ...

Merrill Lynch has reportedly agreed to settle a lawsuit accusing it of underpaying brokerage customers. The Bank of ...

Merrill Lynch has agreed to pay $39 million to resolve claims that it failed to pay reasonable interest on uninvested cash ...

Wolf Popper said the sweep accounts paid approximately 0.14 percent during the class period, a rate the firm described as ...

Bank of America Merrill Lynch agrees to a $39 million settlement over claims of near-zero returns on idle cash for retirement ...

The $39m is a far cry from the $68m the plaintiffs in the class-action suit estimate they lost as a result of the firm's cash sweep program.

Leading trading and broker solutions provider Match-Trade Technologies has announced that newly-launched CMC Funded has ...

After showing a notable move the upside early in the session, stocks gave back some ground over the course of the trading day on Tuesday but continued to turn in a strong performance. The major ...

Leadership changes, investment styles move in and out of favour, and periods of exceptional performance are often followed by more ordinary outcomes. Relying too heavily on past performance can ...