Charles Schwab reported a slight drop in its third quarter earnings today, but excluding the sale of U.S. Trust in the year-ago quarter, results are mostly flat versus last year—which is an achievement considering the market environment.
On a nationwide conference call this morning with branch managers and regional directors, Robert McCann, president of Merrill’s global private client group, told them that they will not be getting anything in the way of retention. He also...
Bank of America settled with the SEC and state regulators today over allegations of fraud in connection with the sale of auction-rate securities, agreeing to buy them back from its retail customers at par.