About Those $4.95 Charles Schwab Brokerage Fees

Americans were rightly jolted last summer upon learning of the Equifax hack that comprised the data of nearly half of America, giving hackers access to sensitive information such as social security numbers, mother’s maiden names, and in some cases, even estimates concerning the amount of assets that each individual owns.

The safeguards necessary to protect electronic data of customers will deservedly occupy the attention of regulators in the coming years, as it is the type of harm that is easy to ignore—from the point of view of the data custodian, there is no immediate business payoff to protecting data and the risk of hacking seems like a remote possibility.

In much the same way that Chipotle didn’t fully appreciate the need to take extreme caution with food preparation until after a disaster left its reputation for internal controls in tatters, brokerage houses and financial institutions may be slow to appreciate … Read the rest of this article!