Comment by throwaway2037
Comment by throwaway2037 3 days ago
As HN loves to quote Hanlon's razor: <<Never attribute to malice that which is adequately explained by stupidity (or incompetance).>> First, assume that they shares were purchased, but not correctly credited to your account. Second, confirm that with CashApp. (Doubt it -- but try that first.)
Assuming CashApp is a US-based brokerage, I would first raise a complaint with CashApp. If you get the blow-off (which I fully expect), send a written letter to the Securities Exchange Commission (SEC) and CC CashApp legal and compliance team. (Make it clear in the letter that you are CC'ing CashApp L&C.) Usually, brokerages are not allowed to make a customer whole after an execution mistake. However, if they make enough mistakes, SEC will slap them with a huge fine. (See: Robinhood.) It is very important to formally register your complaint with CashApp. In fact, I would use this exact phrase: "I would like to formally file a complaint about poor execution service from your brokerage firm." Everything is recorded in brokerage firms these days (voice or written). There will be absolutely no doubt that you wish to formally file a complaint, and I can guarantee you that it will be taken seriously by either CashApp (L&C team) or SEC (enforcement team).
This is great advice I hope GP follows, but this also highlights something that I wish the original article addressed: not caring is contagious.
The reason corporate interests push a façade of not caring is so that many customers will also not care.
Between binding arbitration and other legalese-fu, the process for remediation slowly chips away at people who at first thought they cared.