Moody’s changes E*Trade’s outlook to negative

Moody’s Investors Service said it changed to negative from stable the outlook on E*Trade Financial Corp. and E*Trade Bank and affirmed their ratings.

“The negative outlook reflects the elimination of E*TRADE’s commissions in reaction to competitive forces in the online brokerage industry. The outlook also reflects the lower revenue from commission income, which will weaken the firm’s diversification profile, coupled with E*TRADE’s increased reliance on the level of interest rates,” said Moody’s in a press release.

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