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.

  • treadful@lemmy.zip
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    4 months ago

    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.

    Of course, whether those rules will go into effect could depend on the results of the November election. Donald Trump could strike them down or dilute them

    This sure seems like political action designed to put pressure on the electorate.

    • bobs_monkey@lemm.ee
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      4 months ago

      Yeah, put this way, this sounds like greedy shit bags saying vote this way or else.

      What the fuck man