07/07/26 · 4 min read
Oppenheimer cash sweep settlement: $70M for brokerage customers shortchanged on interest
By ClaimBridge Team
If you held an Oppenheimer & Co. brokerage account between March 17, 2022 and May 22, 2026 and your uninvested cash sat in the firm's Advantage Bank Deposit Program (ABDP), you may have been underpaid interest during the sharpest rate-hike cycle in decades. A $70 million settlement is open for claims until September 17, 2026.
What this settlement is about
The litigation alleged Oppenheimer swept customers' idle cash into its ABDP and paid interest rates far below what the market — and the Fed's rapid 2022–2023 hikes — justified, keeping the spread. The $70 million fund compensates customers based on their swept cash balances over the four-year class period.
Who qualifies and what you need
Oppenheimer brokerage customers whose uninvested cash was swept into the ABDP during the class period. Your account statements are the documentation — they show the swept balances that determine your share. Customers who parked significant cash (retirees, conservative allocations, proceeds between investments) have the largest claims.
How to file
ClaimBridge assembles the statements so your registration takes minutes, and you keep 100% of the payout. The official settlement site is oppenheimercashsweeplitigation.com. Deadline: September 17, 2026. If you've closed your Oppenheimer account since, you can still claim — request historical statements from the firm.
Frequently asked questions
How do I know if my cash was in the sweep program?
Check your Oppenheimer statements for the Advantage Bank Deposit Program (ABDP) — uninvested cash was typically swept automatically. The balances appear on your monthly statements.
I closed my Oppenheimer account — can I still file?
Yes. Anyone who participated in the program between March 17, 2022 and May 22, 2026 qualifies; request historical statements from the firm to document balances.
What's the deadline?
September 17, 2026.