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.
Source: pymnts.com