JPMorgan Chase CEO warns free checking accounts may end due to gov't fee cap regulations.
JPMorgan Chase CEO Marianne Lake warns that free checking accounts may disappear if the government implements regulations capping overdraft and late fees. Chase, the largest consumer bank and top credit card issuer in the US, is looking to charge for once-free services to offset the loss of revenue from fee caps. If new rules are enacted, the bank will pass on the costs to customers, potentially ending free services like checking accounts and wealth management tools.
July 05, 2024
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