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A Timeline of the Schwab-TD Ameritrade Deal

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The history of Charles Schwab’s $22 billion purchase of TD Ameritrade extends back decades to when investing became more accessible for many Americans.

It got a big jump start on Sept. 26, 2019, when the brokerage industry’s move to zero trading commissions kicked into high gear — dramatically reshaping the short-term factors that ultimately led to the deal.