JPMorgan stock price steadies after cash-sweep lawsuit ruling as Fed minutes loom
JPMorgan Chase & Co barely budged on Friday, trading up just 0.2% at $303.36 by mid-morning after an earlier dip to $296.91. A U.S. judge gave the green light for customers to pursue parts of a proposed class action challenging the bank’s cash-sweep interest rates. Plaintiffs say some sweep accounts paid only 0.01% to 0.03% interest, despite short-term U.S. rates moving above 5%.
