cross-posted from: https://lemmy.world/post/17274141
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.
Welp the day that happens I’ll bring my tiny bank account elsewhere. Even if the other banks have similar fees. Chase has done nothing to gain my loyalty or trust and I have used them since they were Washington Mutual.