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.

  • Parabola@lemmy.world
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    2 months ago

    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