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.

  • capital@lemmy.world
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    4 months ago

    New capital rules would also require them to hod more reserves against mortgages and credit card loans

    Does anyone proofread these anymore?

    Anyway, go ahead. Watch how quickly people move to banks which don’t charge or better yet, credit unions.