Oppenheimer Cash Sweep (ABDP) Settlement
In re Oppenheimer Cash Sweep Litigation (U.S. District Court, Southern District of New York; Hon. Jed S. Rakoff)
Closed. The claim deadline of September 17, 2026 has passed. You can no longer file a claim for this settlement. This page is kept for reference.
A $70 million settlement over allegations that Oppenheimer failed to pay customers the correct interest rate on cash held in its Advantage Bank Deposit Program (ABDP), asserting breach of contract and violation of New York General Business Law § 349. Oppenheimer denies wrongdoing. The deadline of September 17, 2026 has passed, so this settlement is closed.
Estimated payout
A pro-rata share of the $70 million Net Settlement Fund, calculated from your ABDP deposit balances.
Proof required?
Documentation of your ABDP participation is required — account statements or records showing your deposit balances and dates.
Cost
Always free through the official administrator.
Who qualifies
Customers of Oppenheimer & Co. Inc. or Oppenheimer Asset Management Inc. who participated in the Advantage Bank Deposit Program at any time between March 17, 2022 and May 22, 2026 (at least one day).
Background
The suit is part of a broader industry reckoning over brokerage 'cash sweep' programs, in which firms moved customers' idle cash into affiliated bank accounts paying very low interest — while pocketing much of the spread as rates rose. Oppenheimer's Advantage Bank Deposit Program was alleged to have shortchanged customers on the interest they were owed.
What you need to file
- The claim ID from your notice packet, if you received one.
- Account statements or records showing your ABDP deposit balances and participation dates.
- Your contact information and a payment choice.
What you can get
A pro-rata share of the $70 million Net Settlement Fund, calculated from your ABDP deposit balances.
Proof of purchase or loss: Documentation of your ABDP participation is required — account statements or records showing your deposit balances and dates.
Free to file. We’re not a law firm.
Unclaimed Guide is an independent guide. We are not a law firm, not a claims-filing service, and not affiliated with Oppenheimer & Co. Inc., the settlement administrator, or the court. You can always file this claim yourself, for free, at the official site above. Never pay a company that offers to file it for you.
Common questions
Oppenheimer or Oppenheimer Asset Management customers who were in the Advantage Bank Deposit Program between March 17, 2022 and May 22, 2026. File free at oppenheimercashsweeplitigation.com by September 17, 2026 with documentation of your participation.
Yes. Filing is always free through the official settlement administrator at oppenheimercashsweeplitigation.com. You never need to pay a law firm or a claims service — we are an independent guide and are not affiliated with the settlement, the administrator, or the court.
No. The deadline (September 17, 2026) has passed, so the window is closed. Deadlines are set by the court; check oppenheimercashsweeplitigation.com for any updates.
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