Good point. I&#x27;m pretty sure that Vanguard has thought this through.  The article says &quot;Danon collected a $117,000 whistle-blower bounty in Texas in November, meaning that Vanguard paid the state at least $2.3 million. It’s possible that Vanguard’s payment had nothing to do with the fee issue.&quot; So I&#x27;m going to guess it&#x27;s some other arcane thing they missed.