JPMorgan Chase (JPM.N), opens new tab has been accused in a new lawsuit of sweeping customers’ idle cash into accounts with “unreasonably” low interest rates.
The proposed class action against the largest U.S. bank was filed on Friday night in Manhattan federal court.
It followed similar lawsuits against other banks and brokerages including Ameriprise (AMP.N), opens new tab, LPL Financial (LPLA.O), opens new tab, Morgan Stanley (MS.N), opens new tab, UBS (UBSG.S), opens new tab and Wells Fargo (WFC.N), opens new tab.
Source: REUTER
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