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It became the exclusive home loan provider of Charles Schwab Bank, for instance, and licensed its proprietary loan origination technology to JP Morgan Chase.
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Among the apparent victims of this trend are holders of the Charles Schwab Bank Visa, which not long ago charged no annual fee and paid holders a flat 2% cash back on purchases.
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They can bank at Charles Schwab or Fidelity instead.
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In addition, Norges Bank filed proxy access proposals at Charles Schwab, CME Group, Western Union and Wells Fargo.
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In other earnings news, Bank of America ( BAC), Charles Schwab ( SCHW) and Mattel ( MAT) will release their quarterly results today.
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Harvey A. Rowen is the president of Starmont Asset Management, an independent wealth management firm, and is the former chief executive officer of the Merrill Lynch Bank and Trust Company and of the Charles Schwab Trust Company.
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Charles Schwab used Communispace, a consumer collaboration agency that helps companies like Coca Cola, WalMart, Bank of America and hundreds of others to work directly with consumers to answer difficult business questions.
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