cross-posted from: https://lemmy.world/post/17285927
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.
The appropriate view of your money is that you should never have to pay for the priveledge to use it. Do not ever use a bank, credit card, or any financial account that you need to pay for. They are making money off of you, which I’m OK with, but I’m sure as hell not going to pay them so they can make money with my money.