Charles Schwab: Difference between revisions
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== Overview == | == Overview == | ||
Charles Schwab is a U.S.-based company providing brokerage and financial services. | Charles Schwab is a U.S.-based company providing brokerage and financial services. | ||
== Select business and consumer practices == | |||
=== 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 percent 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 2025-01-19, the public-facing Charles Schwab website cites a margin loan interest rate as of 2024-12-20 of between 10.825% and 12.575%. | |||
== References == | |||
https://www.schwab.com/margin/margin-rates-and-requirements | |||