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.
Since when did they have free checking? Are we talking about people grandfathered in who opened accounts ages ago? Every time I’ve checked they had terrible options.
Since forever?
to waive, meet a minimum balance requirement of $1,500 at the beginning of each day or have at least $500 in monthly direct deposits or keep at least $5,000 across Chase accounts
Ok so kind of free but not as in beer.