Reported about 1 year ago
JPMorgan, the largest U.S. retail bank, is considering introducing charges for accounts as a result of new regulations limiting overdraft and late fees, impacting 86 million customers. The bank plans to pass on increased costs to customers, potentially ending free services like checking accounts and wealth management tools. CEO Marianne Lake predicts other banks may follow suit, but the outcome remains uncertain due to potential consumer backlash and pending legal challenges against the new rules.
Source: YAHOO