Schwab Passes Out the Cash

Charles Schwab plans a $3.5 billion capital restructure that pulls the company from the M&A arena

The $3.3 billion Charles Schwab Corp. (SCHW) received for the sale of its U.S. Trust private banking franchise won’t be sitting around for long. The financial services outfit unveiled a $3.5 billion capital restructuring program on July 2, the same day the U.S. Trust sale to Bank of America (BAC) closed.

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