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U.S. banks accused of defrauding customers out of billions of dollars in interest payments.
Wells Fargo , Morgan Stanley , and Bank of America accused of steering clients toward cash sweep’ accounts that provided little to no interest earnings.
The SEC is currently investigating these banks to determine whether this was a deliberate strategy by the banks to boost their own profits at the expense of their clients.
The revelations have emerged from new Quarterly filings with the SEC .
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VR Score
62
Informative language
57
Neutral language
4
Article tone
formal
Language
English
Language complexity
57
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Hate speech
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Attention-grabbing headline
not detected
Known propaganda techniques
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Time-value
short-lived
External references
8
Source diversity
8
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