Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement
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Who Is Eligible?
You may be eligible to file a claim if you:
- You held an account with Oppenheimer & Co. during the relevant period covered by the lawsuit
- Your uninvested cash was automatically swept into the Advantage Bank Deposit Program
- You were a retail or individual brokerage customer (institutional eligibility details may vary — check the official settlement site)
- You are a U.S. resident or had a U.S.-based Oppenheimer account during the covered period
- You did not previously opt out of or release your claims against Oppenheimer related to the cash sweep program
How Much Can You Get?
The total settlement fund is $70 million, which will be distributed among all eligible claimants who submit valid claims. Individual payout amounts are not yet publicly specified, which means your share will depend on factors like how much cash you had in the Advantage Bank Deposit Program and how long it was held there — as well as how many total claims are filed. Because this is a pro-rata distribution, the more claimants who file, the smaller each individual payment may be. That said, customers who held larger cash balances in the sweep program for longer periods of time would generally expect to receive larger payments. Check the official settlement administrator's website for a full breakdown of the payment calculation formula once it becomes available.How to File Your Claim
Filing your claim is quick and easy:
- Confirm you had an Oppenheimer & Co. account with funds in the Advantage Bank Deposit Program during the covered period
- Gather any documentation related to your Oppenheimer account, such as account statements showing your cash sweep balances (proof is required)
- Visit the official settlement website (linked through the settlement administrator) to access the claim form
- Complete the claim form with your account information and any required supporting documents
- Submit your claim before the deadline of September 17, 2026
- Download the Class Action Buddy app to track your claim status, get deadline reminders, and find other settlements you may qualify for
💡 Easier way: File with Class Action Buddy
Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.
Download for iPhone Download for AndroidFrequently Asked Questions
What is the deadline to file a claim for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
The current deadline to file a claim is Sep 17, 2026. Note: claims sent by mail must be postmarked by this date, and Class Action Buddy ships claim forms with a 7-day mailing buffer to ensure on-time delivery.
Do I need proof of purchase for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
Yes — this settlement requires proof of purchase. Acceptable proof typically includes receipts, credit card statements, photos of the product, or order confirmation emails. Check the official claim form for specifics.
How do I file a claim for the Oppenheimer & Co. $70M Advantage Bank Deposit Program Settlement?
You have two options: (1) Use the free Class Action Buddy mobile app — set up your profile once and the app auto-fills the PDF claim form, captures your signature, and submits the claim by mail on your behalf. (2) File directly with the settlement administrator using the official claim form linked on this page.
What is the Oppenheimer cash sweep settlement about?
The lawsuit claims that Oppenheimer & Co. swept customers' uninvested cash into its Advantage Bank Deposit Program, which paid lower interest rates than alternatives, while Oppenheimer earned fees from the arrangement. Oppenheimer agreed to a $70 million settlement to resolve these allegations without admitting wrongdoing.
How do I know if I'm included in the Oppenheimer settlement?
If you had a brokerage account with Oppenheimer & Co. and your uninvested cash was automatically placed into the Advantage Bank Deposit Program during the covered period, you are likely a class member. You may have received a notice in the mail or by email. Check your old Oppenheimer account statements for references to the Advantage Bank Deposit Program.
What is the deadline to file a claim in the Oppenheimer settlement?
The claim filing deadline is September 17, 2026. Make sure to submit your claim form and any required documentation before this date to be eligible for a payment.
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