BofA’s Merrill Lynch Settling Cash Sweep Suit for $39 Million

T2Covered by 1 source · first reported by PYMNTS at 01 Oct, 13:02 UTC

Merrill Lynch has reportedly agreed to settle a lawsuit accusing it of underpaying brokerage customers. The Bank of America-owned brokerage will pay $39 million in the settlement, Reuters reported Wednesday (Sept. 30), citing court documents. The class action suit accused Merrill of paying…

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• T2BofA’s Merrill Lynch Settling Cash Sweep Suit for $39 MillionPYMNTS01 Oct, 13:02