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.
12 points
I’ve met one of these zero-regulation idiots thinking that somehow the average Joe benefits from giving all power to anyone with lots of money who isn’t them.
5 points
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