Charles Schwab profit falls 45%,as low interest rates and a trading-revenue decline of nearly one-fifth weighed on results .
Schwab, meeting its own forecast, waived $125 million in fees on its money market funds, cutting into its asset management & administration fees, which dropped by 16% from a year ago. With continued low rates, Schwab has waived those fees so that clients' returns don't turn negative.
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