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E*Trade, Ameritrade dismiss online-account raids.(News)

Investment News,  November, 2006  

Tags: Ameritrade Inc., Charles Schwab & Co. Inc., company, E*Trade Financial Corp., industry

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Byline: Brooke Southall Companies contend that the problems are industry issues SAN FRANCISCO - After disclosing millions of dollars in reimbursements made to victims of online-account raids, E*Trade Financial Corp. and TD Ameritrade Holding Corp. dismissed the problems as "industry issues.'' But industry experts say their attempt to deflect blame may be disingenuous.

"I think there's a responsibility of these firms,'' said Alois Pierker, senior analyst with Boston-based consulting firm Aite Group LLC. The two online brokers suggested that ...

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