Blowback on Cash

Blowback on Cash

ByGil Baumgarten

Never has cash been so controversial. Merrill Lynch, Wells Fargo, LPL, and many others are facing lawsuits over how they pay interest on their clients’ cash deposits. The hoopla is over cash sweeps and whether a brokerage client is entitled to the highest rate available. The answer is that it depends.  A dozen years ago,…

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