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.

    • davel [he/him]@lemmy.ml
      link
      fedilink
      English
      arrow-up
      4
      arrow-down
      1
      ·
      edit-2
      1 month ago

      This is a fundamentally different thing. When you go to pay the fees they charge you, you don’t get to create that money out of thin air.