Personal Finance

3660 readers

12 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 2 years ago

MODERATORS

WandererLagomorph799@lemmy.ml

nieceandtows@programming.dev

nieceandtows@lemmy.ml

167

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

submitted 4 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

32 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

[–] jacksilver@lemmy.world 2 points 4 months ago

Yeah, I don't imagine some of the online banks changing their operations, as places like Ally already provide a lot of cover for things like overdraft.

In that scenario it becomes another reason to not do business with JP.