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.
Meanwhile my credit union pays me interest on my checking account.
Switched back to a CU a year ago, saving several hundred dollars a year now, at least.
Chase have been in the UK until really recently. Still giving 1% cashback on all transactions though.
Chase is trash