Oppenheimer Cash Sweep
Against Oppenheimer & Co. Inc.
Oppenheimer brokerage customers whose idle cash sat in the Advantage Bank Deposit Program may have been shortchanged on interest. A $70M settlement is open for claims until September 17, 2026.
About this settlement
The litigation alleged Oppenheimer & Co. underpaid interest to customers whose uninvested cash was swept into its Advantage Bank Deposit Program while rates rose sharply from 2022 onward. The $70 million fund compensates customers who participated in the program between March 17, 2022 and May 22, 2026, with recovery based on swept cash balances — account statements showing your deposit balances document the claim. Claims are due September 17, 2026. ClaimBridge assembles the statements so your registration takes minutes. What you can claim: a pro-rata share of $70 million, weighted by your Notional Claim Amount — the gap between the interest you actually received on cash swept under the Advantage Bank Deposit Program and what a market-based rate would have paid. You qualify with a single day in the programme during the class period, and you file one claim form per account. For scale, the plaintiff's damages expert put the shortfall across the whole class at about $557 million against that $70 million fund. There is no documented-loss tier and no published per-person figure. Filing needs the Claim ID and PIN from your notice packet — it is the portal's only option — and email submissions are explicitly refused.
Who is eligible?
- You held an Oppenheimer & Co. brokerage account between March 17, 2022 and May 22, 2026.
- Your uninvested cash was swept into the Advantage Bank Deposit Program (ABDP).
- You can provide account statements showing swept balances.
Full guide
Oppenheimer cash sweep settlement: $70M for brokerage customers shortchanged on interest