OMAHA, Nebraska - Discount stock brokerage Charles Schwab is in talks to buy competitor TD Ameritrade and a deal could be announced today, according to CNBC.
Schwab and TD Ameritrade are the two biggest publicly traded discount brokers and a merger would create a colossus with five-trillion dollars in combined assets.
Schwab, TD Ameritrade, and other brokerages have eliminated commissions on trades and the industry is now scrambling to find ways to maintain profits.
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