Merrill, Morgan, Citi Get Help From Clients' Cash

Nov 18 07

Bloomberg writes "Merrill, Morgan, Citi Get Help From Clients' Cash" on a lawsuit over low-interest brokerage cash sweep accounts. The article says, "Merrill, Citigroup, Morgan Stanley, Charles Schwab and Wachovia, which are being sued by shareholders for the practice, last year took in a combined $186 billion in deposits swept from broker customers, according to their clients' lawsuit".

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