Charles Schwab
The Charles Schwab Corporation is a US-based company providing brokerage and financial services.
| Basic information | |
|---|---|
| Founded | 1971 |
| Type | Public |
| Industry | Financial |
| Official website | https://schwab.com |
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% 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%.