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URL:  http://boards.fool.com/the-broker-is-saying-they-are-payments-in-lieu-30584904.aspx

Subject:  Re: Possible 1099 error Date:  3/11/2013  4:56 PM
Author:  irasmilo Number:  118034 of 123001

The broker is saying they are payments in lieu, but the account is not a margin account nor did I sign any lending agreement.

Almost every brokerage account is a margin account. That is the standard account type because it offers the broker another way to make money (while keeping your fees low). Brokers often borrow shares from their clients to lend to others. They collect interest on the loan, but usually don't pass that interest on to the client (you) who provided the shares. You need to look at the language of the cust