Wall Street's own watchdog filed a complaint against Charles Schwab Corp., accusing the online brokerage of requiring customers to waive their rights to pursue certain legal action against the firm, a violation of industry rules.
The Financial Industry Regulatory Authority alleged that Schwab added a new provision in October to more than 6.8 million customer account agreements that would preclude them from starting or joining class-action lawsuits against the brokerage, according to FINRA's complaint.
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