Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2022
Robo-adviser disclosure settlement
The SEC announced that Schwab would pay $187 million to settle allegations that it failed to adequately disclose cash allocations, hidden-fee implications, and related economics in its robo-advisory portfolios.
2008
YieldPlus fund losses
Schwab's YieldPlus funds suffered heavy losses during the financial crisis, including a reported decline of 31.7 percent. The funds were later closed in 2011.
2001
U.S. Trust bank-secrecy violation
U.S. Trust, then owned by Schwab, was fined $10 million for violations of bank-secrecy laws and ordered to make payments to New York banking regulators and the Federal Reserve.
1997
Best-execution enforcement matter
A Schwab unit was fined for failing to arrange the best trades for customers, raising execution-quality and customer-protection concerns.