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

submitted 5 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml

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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.

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[–] sugar_in_your_tea@sh.itjust.works 6 points 5 months ago* (last edited 5 months ago)

Cool, I'll just factor that in to my Chase bank account signup bonus math. They have really crappy interest rates, so there's no way I'm paying for a service I won't use for free...

There are plenty of competitors, especially with people needing cash less and less...