LPL Financial Cash Sweep Class Action Lawsuit Investigation

LPL Financial allegedly gives clients low interest rates on un-invested cash while earning higher fees.

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Gibbs Law Group is investigating a potential class action lawsuit on your behalf.

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LPL Cash Sweep Class Action for paying unreasonably low interest rates

LPL Financial has recently been hit with a lawsuit alleging that it fails to act in its clients’ best interests and instead enriches itself in connection with its cash sweep programs. A recent lawsuit claims that LPL pays customers as little as 0.35% interest on cash sweep accounts, while generating as much as 3.23% for itself.

What is a Cash Sweep Account at LPL Financial?

A cash sweep account is a bank account that automatically moves cash funds between accounts to minimize risk and maximize returns. If you have an account with LPL Financial, then you may have a cash sweep account. LPL Financial bank deposit sweep programs are referred to as the “ICA Program” or “Insured Cash Account Program,” and “DCA Program” or “Deposit Cash Account Program” according to its website. ”

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How do I Join an LPL Cash Sweep Class Action Lawsuit?

If you have an account with LPL Financial, then you may have been impacted by this. Contact us to find out if you’re eligible to join the LPL Financial class action lawsuit.

About Us

Gibbs Law Group is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”