Did your brokerage pay you fair interest on your cash?
If you held an investment or brokerage account in 2022 or 2023, your cash may have been automatically "swept" into a low-yield account — while your brokerage earned significantly more on those same funds. You could qualify for compensation.
Do you qualify?
Three things that matter
You may be eligible if all three of the following apply to your situation.
Account open in 2022 or 2023
The investigation covers accounts active during the period of elevated interest rates.
One of the brokerages listed below
Our investigation is focused on specific firms. Check the list on this page.
Cash held in a sweep account
Uninvested cash that was automatically moved into a default deposit program.
Brokerages under investigation
Is your brokerage on this list?
Our firm is actively investigating the following institutions for potentially failing to pay customers fair interest rates on swept cash.
What is cash sweep?
Understanding the issue
How cash sweep works
When you hold uninvested cash in a brokerage account, it is typically "swept" automatically into a bank deposit program. This happens behind the scenes — most investors never choose it or even notice it.
During 2022–2023, the Federal Reserve raised interest rates aggressively, pushing short-term rates above 5%. Brokerages earning on swept deposits were collecting those higher market rates — but many passed along only a fraction of that to customers, sometimes as little as 0.01%.
The core allegation across these cases: brokerages had a duty to offer customers reasonable rates, and many fell far short of that standard while profiting on the difference.
An industry-wide issue
Cash sweep lawsuits have now been filed against more than a dozen major brokerages, and the industry is under increasing regulatory scrutiny. Courts have allowed key claims to proceed, and both the SEC and private plaintiffs are actively pursuing firms that failed to pass fair rates on to customers.
Think you may qualify?
It takes less than 5 minutes to submit your inquiry. No legal expertise required — we handle everything from assessment to recovery.
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