Regulatory · Treasury / Cash Management · 2026

BofA's Merrill Lynch settles $39M cash sweep lawsuit over low interest rates.

Bank of America issued a regulatory action on October 1, 2026.

Primary
Bank of America
Amount
$39M
Date
October 1, 2026
Sub-sector
Treasury / Cash Management

This settlement highlights regulatory scrutiny of cash management practices at large incumbents, but the defendant is a mega-cap institution ($2T+) with limited direct relevance to sub-$250M fintech competitors. The issue (interest rate practices on idle cash) may inform treasury/cash management product design, but doesn't create immediate M&A or funding pressure for smaller players.

Primary company
Bank of America
Counterparty
Not disclosed
Amount
$39M
Event date
October 1, 2026
HQ
Not disclosed
Structure
Not disclosed
Source published
Not disclosed
Publisher
PYMNTS

Source: pymnts.com