TIAA unit reaches $97M settlement over retirement investments
- January 25, 2024
- Posted by: Web workers
- Category: Finance
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(Reuters) — A unit of the Teachers Insurance and Annuity Association of America agreed to pay $97 million to tens of thousands of customers who were misled into moving their retirement investments into higher-fee accounts, regulators said Tuesday.
The payout by TIAA-CREF Individual & Institutional Services includes a $9 million civil fine, and was announced by the U.S. Securities and Exchange Commission and New York Attorney General Letitia James.
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