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Robinhood Is Latest Firm to Be Sued Over Cash Sweep Program
News October 28, 2024 at 02:44 PM
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What You Need To Know
- The financial services company retains nearly all the returns its customers' cash generates, the lawsuit states.
- In 2023, Robinhood earned $120 million from the deposit sweep program.
- Customers are offered 0.01% on cash unless they pay a monthly fee.
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