Tag Archives: moneymaker

If U.S. regulators crack down on the controversial practice of payment for order flow, it may have one unintended consequence. Big trading outfits could become much larger and even more influential in markets, explains Interactive Brokers chairman and founder Thomas Peterffy.  “If they were to prohibit payment for order flow, what has to happen is you would have Citadel buy Robinhood and Schwab would buy Virtu, and the two sides would be put together into one company,” Peterffy said on Yahoo… Source link

Ally Financial (ALLY), having tested a banking model without overdraft fees, is making it permanent. The move applies to all types of accounts — including checking and savings — and there are no requirements or restrictions. In April 2020, Ally began to waive overdraft fees, citing coronavirus pandemic hardships many customers faced. On June 2 Ally said it’s eliminating those fees for good. “Overdraft fees are a pain point for many consumers but are particularly onerous for some. It is… Source link