To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. Januat 7:30 AM Eastern Bank of America today announced significant changes to its overdraft services, including plans to eliminate non-sufficient funds (NSF) fees beginning in February, and to reduce overdraft fees from 35 to 10 beginning in May. If you prefer that we do not use this information, you may opt out of online behavioral advertising. To maximize the investment value of idle funds, we offer liquid investment vehicles through passive sweep services that enable you to begin earning interest.
#BANK OF AMERICA SWEEP ACCOUNT OFFLINE#
This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. (MLLA) and/or Banc of America Insurance Services, Inc., both of which are licensed insurance agencies and wholly-owned subsidiaries of Bank of America Corporation.īanking, credit card, automobile loans, mortgage and home equity products are provided by Bank of America, N.A. Insurance Products are offered through Merrill Lynch Life Agency Inc. Both are indirect subsidiaries of Bank of America Corporation. When using a bank deposit account as a sweep vehicle investment, invested funds are generally covered by FDIC insurance up to the first 250,000 in balances. Trust and fiduciary services are provided by Bank of America, N.A. MLPF&S makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation.īank of America Private Bank is a division of Bank of America, N.A., Member FDIC and a wholly owned subsidiary of Bank of America Corporation. Securities products are provided by Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S", or "Merrill"), a registered broker-dealer, registered investment adviser, Member SIPC layer, and a wholly-owned subsidiary of Bank of America Corporation. The Citizens Sweep Manager program includes an automated daily sweep of collected and available balances between your Analysis Business Plan checking. You should review any planned financial transactions that may have tax or legal implications with your personal tax or legal advisor.
The public version of the plaintiff’s opening brief, which includes the proposed class definitions sought to be certified, may be found by clicking the link available on this page.Investing in securities involves risks, and there is always the potential of losing money when you invest in securities. Decision on the class motion is currently pending. Officer opines that damages caused by Merrill’s contractual failure to provide a reasonable rate of interest may be determined on a class-wide basis using accepted and reliable methodologies. The class certification motion is also supported by an expert report from Micah Officer, a professor of finance at Loyola Marymount University. The Opinion, among other things, found that the amended complaint sufficiently alleged that Merrill had breached its contractual obligation with customers to provide a “reasonable” rate of interest on retirement assets by sweeping cash into accounts that paid interest “significantly lower than the average rates paid by FDIC-insured banks on deposit accounts across the United States.” The motion is supported by discovery conducted following a JanuOpinion from Judge Valerie Caproni of the United States District Court for the Southern District of New York, granting plaintiff leave to file an amended complaint. On March 11, 2022, Wolf Popper LLP filed a motion for class certification on behalf of persons who maintained Merrill Lynch, Pierce, Fenner & Smith Incorporated on-line retirement brokerage accounts, and whose cash balances were swept by Merrill to low-yielding deposit accounts controlled by its affiliate, Bank of America, N.A.
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