PNC Cash Sweep Class Action Lawsuit

TABLE OF CONTENTS

On July 30, 2025, the Court appointed Rosemary M. Rivas and Gibbs Mura to lead the proposed class action lawsuit against PNC for depositing brokerage clients’ uninvested cash into cash sweep accounts paying unreasonably low interest rates while generating massive profits for themselves.

Read the Class Action Complaint previously filed by our firm.

Overview: PNC Cash Sweep Class Action Lawsuit for Paying Clients Unreasonably Low Interest Rates

Brokerage and investment firm PNC Investments, LLC has an obligation to act in its clients’ best interests. But reports have come out that PNC may offer unreasonably low interest rates to customers in its cash sweep program, because it makes PNC more money. According to our lawsuit:

For years, PNC paid unfair and unreasonable rates of return as low as 0.05% in its cash sweep accounts, while the federal funds rate was over 5%.
By contrast, 2024 earning results indicate PNC Financial Services Group, Inc. has earned significant interest off of these accounts, posting net interest income of $3.3 billion in the second quarter.

Towards the end of 2024, PNC did slightly increase its cash sweep interest rates—just shortly after we filed our lawsuit.

Invest with PNC?

Learn more about our lawsuit.

PNC Cash Sweep Class Action Attorneys

Rosemary Rivas

Rosemary is devoted to obtaining justice for consumers in lawsuits involving claims of false advertising, defective products, and privacy violations.

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Rosanne Mah

Rosanne represents consumers in complex class action cases involving deceptive or misleading practices, false advertising, and data/privacy issues.

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Brian Johnson

Brian is passionate about holding businesses accountable when they mislead or abuse consumers, because consumer rights protects us all.

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Eric Gibbs

A founding partner at the firm, Eric has negotiated groundbreaking settlements that favorably shaped laws and resulted in business practice reforms.

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About Us

Gibbs Mura is a California-based law firm committed to protecting the rights of clients nationwide who have been harmed by corporate misconduct. We represent individuals, whistleblowers, employees, and small businesses across the U.S. against the world’s largest corporations. Our award-winning lawyers have achieved landmark recoveries and over a billion dollars for our clients in high-stakes class action and individual cases involving consumer protection, data breach, digital privacy, and federal and California employment lawsuits. Our attorneys have received numerous honors for their work, including “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” “Best Lawyers in America,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”

california lawyer attorney of the year CLAY award

daily journal top plaintiff lawyers award

Prefer to chat? Give us a call at
510-686-6112

OUR TEAM:

Rosemary Rivas

Rosanne Mah

Brian Johnson

Eric Gibbs