The penalties levied against firms including Citigroup, Bank of America and Goldman Sachs constitute the largest-ever penalties against US banks for record-keeping lapses.
The results of the investigation could be released as soon as Wednesday and could see regulators extracting total fines of around $2 billion.
Federal prosecutors also accused James T. Patten, Peter L. Coker Sr. and Peter L. Coker Jr. of artificially inflating the price of two companies through manipulative trading.
Cash saw inflows of $30 billion in the week through Sept. 21 with the vast bulk now earning upwards of 2%, with pockets paying 3%, 4% or more.
As the spillover from the UK's proposed tax cuts washed into the US stock market, the index posted its fourth consecutive day of losses.
Federal Reserve officials raised rates 75 basis points and forecast a further 1.25 percentage points of tightening before year end.
Judge rejects Amy Cooper's suit against Franklin Resources in which she claimed racial and sexual discrimination and defamation.
The decision to raise rates was unanimous and officials forecast they would reach 4.6% in 2023.
The bank remains committed to turning itself around after a series of scandals, but implementing all its plans will take time, Scharf said in prepared testimony for a congressional committee hearing.
When the bank replaced hard drives and servers, it improperly disposed of thousands of devices, compromising the personal data of about 15 million clients.
