How is Charles Schwab Bank (Schwab Bank) different from Charles Schwab & Co., Inc. (Schwab) the brokerage firm?
Charles Schwab Bank is a federally chartered thrift institution and an affiliate of Charles Schwab Corporation, a financial holding company. All bank products and services are offered through Schwab Bank. Charles Schwab & Co., Inc. (CS & Co.) is a registered broker-dealer and is not a chartered bank. CS & Co. is principally engaged in providing securities brokerage services to customers. The products offered by CS & Co. are not FDIC insured, are not deposits or obligations of, or guaranteed by Schwab Bank, and are subject to investment risk including possible loss of principal.
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