Clark recently bashed Charles Schwab, one of the most respected brokerage houses in the country, for starting an underhanded fee schedule that would dupe many Schwab customers. The company went on the air twice to defend its new fee schedule, but the company has now decided to throw out the whole thing and return to its old schedule. Commissions on stock trades have been reduced from $30 to either $10 or $20, depending on your situation. Also, the company started a fee structure that would require most customers to pay $280. Now most people will not have to pay that fee, but they’ll have to open a certain account called the “Independent Investing Foundational Account.” Clark thinks the company has done a nice job realizing that it created a problem for itself. He thinks companies should be able to charge what they want for services, but they should be upfront about it. You may not even be aware that this was going on, so you may have to make a change in what your account is called. As for the market in general, it’s splitting in two. There are either extremely low cost brokerages out there, or those with really big fees and commissions. Apparently, Schwab wants to be one of those low-cost companies. And Clark commends them for coming clean about what they were trying to do.