Personal Finance

3802 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

nieceandtows

[email protected]

168

JPMorgan Chase warns 86 million customers they might have to start paying for their bank accounts (finance.yahoo.com)

submitted 4 months ago by [email protected] to c/[email protected]

31 comments fedilink hide all child comments

The potential charges, says Marianne Lake, CEO of consumer and community banking at JPMorgan, are a result of new regulatory rules that cap overdraft and late fees. Lake says Chase will be passing along those increased expenses to customers, which would put an end to now-free services such as checking accounts and wealth management tools. And she says she expects other banks will follow suit.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 36 points 4 months ago (2 children)

86 million customers warn JP Morgan Chase they may have to start paying the money into a different bank account.

[–] [email protected] 24 points 4 months ago

Might as well switch to a credit union while you’re at it.

[–] [email protected] 5 points 4 months ago

I'd be surprised if Chase actually did this. This is just ammo for pro-corporate politicians and lobbyists. "Government rules are going to make it worse for people, see? Stop making rules or all the banks will have to do this!"

It's bullshit. Keep making rules. Big banks are dangerous.