Charles Schwab: Difference between revisions

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{{InfoboxCompany

| Name = Charles Schwab

| Type = Public

| Founded = 1971

| Industry = Financial

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'''[[Wikipedia:Charles Schwab Corporation|The Charles Schwab Corporation]]''' is a US-based company providing brokerage and financial services.

== Select business and consumer practices ==

==Select business and consumer practices==

=== Interest ~~Rates Charged~~ ===

===Interest rates charged===

Charles Schwab may be charging customers a higher ~~rate of interest~~ than the maximum ~~allowed~~ rate ~~named in~~ statutory laws in ~~some~~ jurisdictions in the United States. For example, the 2024 Maryland Code Commercial law ~~sec~~. 12-102 ~~states~~ a maximum rate ~~of interest~~ of 6% per annum, ~~but [[Ally Invest]]~~ does not ~~specify~~ that it ~~does not allow~~ its interest rates ~~to go above~~ 6% for customers residing in Maryland. It is worth noting, however, that other companies ~~providing~~ brokerage services publicly advertise similarly high (less favorable) interest rates to customers. As of ~~January 19,~~ 2025, the publicly ~~facing~~ website for Charles Schwab ~~cites~~ a margin-loan interest rate ~~(as of December 20, 2024) of between~~ 10.825% ~~and~~ 12.575%.

Charles Schwab may be charging customers an interest rate higher than the maximum rate permitted by statutory laws in certain jurisdictions within the United States. For example, the 2024 Maryland Code, Commercial Law § 12-102<ref>[https://law.justia.com/codes/maryland/commercial-law/title-12/subtitle-1/section-12-102/ 2024 Maryland Code, Commercial Law § 12-102]</ref>, sets a maximum interest rate of 6% per annum. However, Charles Schwab does not explicitly state that it restricts its interest rates from exceeding 6% for customers residing in Maryland. It is worth noting, however, that other companies offering brokerage services also publicly advertise similarly high (and less favorable) interest rates to customers. As of February 2025, the publicly accessible website for Charles Schwab lists a margin loan interest rate ranging from 10.825% to 12.575%.<ref>[https://www.schwab.com/margin/margin-rates-and-requirements Charles Schwab website]</ref>

~~== References ==~~

https://www.schwab.com/margin/margin-rates-and-requirements

~~[[Category:Companies]]~~

==References==

[[Category:~~Financial Services Companies~~]]

[[Category:Charles Schwab]]

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+{{StubNotice}}
 {{InfoboxCompany
 | Name = Charles Schwab
+| Type = Public
 | Founded = 1971
 | Industry = Financial
@@ Line 10: / Line 11: @@
 '''[[Wikipedia:Charles Schwab Corporation|The Charles Schwab Corporation]]''' is a US-based company providing brokerage and financial services.
-== Select business and consumer practices ==
+==Select business and consumer practices==
-=== Interest Rates Charged ===
+===Interest rates charged===
-Charles Schwab may be charging customers a higher rate of interest than the maximum allowed rate named in statutory laws in some jurisdictions in the United States.  For example, the 2024 Maryland Code Commercial law sec. 12-102 states a maximum rate of interest of 6% per annum, but [[Ally Invest]] does not specify that it does not allow its interest rates to go above 6% for customers residing in Maryland. It is worth noting, however, that other companies providing brokerage services publicly advertise similarly high (less favorable) interest rates to customers.  As of January 19, 2025, the publicly facing website for Charles Schwab cites a margin-loan interest rate (as of December 20, 2024) of between 10.825% and 12.575%.
+Charles Schwab may be charging customers an interest rate higher than the maximum rate permitted by statutory laws in certain jurisdictions within the United States. For example, the 2024 Maryland Code, Commercial Law § 12-102<ref>[https://law.justia.com/codes/maryland/commercial-law/title-12/subtitle-1/section-12-102/ 2024 Maryland Code, Commercial Law § 12-102]</ref>, sets a maximum interest rate of 6% per annum. However, Charles Schwab does not explicitly state that it restricts its interest rates from exceeding 6% for customers residing in Maryland. It is worth noting, however, that other companies offering brokerage services also publicly advertise similarly high (and less favorable) interest rates to customers. As of February 2025, the publicly accessible website for Charles Schwab lists a margin loan interest rate ranging from 10.825% to 12.575%.<ref>[https://www.schwab.com/margin/margin-rates-and-requirements Charles Schwab website]</ref>
-== References ==
-https://www.schwab.com/margin/margin-rates-and-requirements
-[[Category:Companies]]
+==References==
-[[Category:Financial Services Companies]]
+<references />
+[[Category:Charles Schwab]]