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In 1982, Schwab became the first firm to offer 24/7 order entry and quote service. It opened its first international office in Hong Kong, and the number of client accounts totaled 374,000. [12] By 1995 the company was by far the largest discount broker, with revenue of $1.4 billion and $200 billion in total assets managed.
In 1982, Schwab became the first to offer 24/7 order entry and quote service, its first international office was opened in Hong Kong, and the number of client accounts totaled 374,000. In 1983, Stephen McLin purchased the company for Bank of America for $55 million. In 1984, the company launched 140 no-load mutual funds.
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In November 2007, the company reported that hackers gained access to most of its clients' names, Social Security numbers, dates of birth, addresses, phone numbers, and trading activity. [ 39 ] [ 40 ] In 2011, after being sued in a class action , the company settled by agreeing to compensate customers that were victim to identity theft between ...
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