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Overview

The Charles Schwab Corporation, is an American brokerage and banking company, based in San Francisco, California. It was founded in 1971 by Charles R. "Chuck" Schwab, as a traditional, brick and mortar brokerage firm and investment newsletter publisher. In 1973, the company name changed from First Commander Corporation to Charles Schwab & Co. , Inc. The company started offering discount brokerage on May 1, 1975, and would become one of the world's largest discount brokers.