Charles Schwab, a bank and stock brokerage firm, completed the acquisition of TD Ameritrade, a broker that offers an electronic trading platform for the trade of financial assets, for $26bn. “We have long respected TD Ameritrade since our early days pioneering the discount brokerage industry, and as a fellow advocate for investors and independent investment advisors. Together, we share a passion for breaking down barriers for investors and advisors through a combination of low cost, great service and technology. With this transaction, we will capitalize on the unique opportunity to build a firm with the soul of a challenger and the resources of a large financial services institution that will be uniquely positioned to serve the investment, trading and wealth management needs of investors across every phase of their financial journeys,” Walt Bettinger, Schwab President and CEO. Charles Schwab said on 4th of June,2020 it has received anti-trust approval from the Department of Justice for its purchase of TD Ameritrade. On 30 September, 2020, TD Ameritrade announced Schwab received regulatory approval from the Board of Governors of the Federal Reserve System.