86 million customers may have to start paying for their bank accounts

[Thinker101]

Chase Bank customers could see some additional charges in the not too distant future.

The potential charges are a result of new regulatory rules that cap overdraft and late fees. 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.

Bidenomics wormed its way through the back door of banks via inflation and customers saving less. Now it wants in through the front door.

MSN

 

[pknopp]

The threat of charging for once-free services isn’t a new one. Over a decade ago, many banks said they would add a service fee onto debit cards because of regulatory changes. Few actually did, though, as the feared a consumer revolt.

We should have let them all go bankrupt in 2008.

 

[The Duke]

The threat of charging for once-free services isn’t a new one. Over a decade ago, many banks said they would add a service fee onto debit cards because of regulatory changes. Few actually did, though, as the feared a consumer revolt.

We should have let them all go bankrupt in 2008.

Yeah, but Bush and Obama gave them all the peoples' houses and money instead.

Bad thing, that. Now there's even fewer banks and they have more power.

 

[konradv]

Chase Bank customers could see some additional charges in the not too distant future.

The potential charges are a result of new regulatory rules that cap overdraft and late fees. 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.

Bidenomics wormed its way through the back door of banks via inflation and customers saving less. Now it wants in through the front door.

MSN

Fees go up and down depending on what banks think they can get away with to increase their bottom line and satisfy shareholders. Complaining about it is like complaining about capitalism. Capping some fees spreads out the hurt, so the least able to afford it aren’t hit the hardest.

#ECONOMICS101

 

[wamose]

My bank, Fidelity, just started charging for checks. I never paid for checks my whole life so I did some research, which I should have done years ago, and found a much better bank, EverBank, and switched. My new interest rate is 5X the old one, free checking and 3 free ATM usages a month. The only drawback is that the bank isn't right across the street. I arranged for all my bills to be paid by autopay so the free checking thing is moot. The main point is, there are probably better banks out there if you are willing to remote bank and spend the time it takes to keep an eye on the store. Plus, switching your money to a higher yielding bank may give the robber baron banks something to think about, losing accounts. So, you might as well go and get your best deal ASAP because eventually, they'll all start squeezing their customers. MAGA

 

[pknopp]

Fees go up and down depending on what banks think they can get away with to increase their bottom line and satisfy shareholders. Complaining about it is like complaining about capitalism. Capping some fees spreads out the hurt, so the least able to afford it aren’t hit the hardest.

#ECONOMICS101

Capitalism says that if you fail you go bankrupt. Not get bailed out by taxpayers that you then screw over.

It's not complaining about capitalism. It's complaining because the capitalists don't actually believe in capitalism where it comes to them.

 

[Lisa558]

What it is….

Having responsible account holders subsidize the behavior of the irresponsible account holders. Reminds me of the Biden proposal to charge lower mortgage rates to people with poorer credit.

 

[CrusaderFrank]

Chase Bank customers could see some additional charges in the not too distant future.

The potential charges are a result of new regulatory rules that cap overdraft and late fees. 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.

Bidenomics wormed its way through the back door of banks via inflation and customers saving less. Now it wants in through the front door.

MSN

I’m still amazed how the Fed has been able to postpone the collapse of our banking system, probably saving that for Trump (if we have an election in November and we are able to overcome the 15MM fake votes for Biden, or whoever gets the nomination)

 

[Harpy Eagle]

I’m still amazed how the Fed has been able to postpone the collapse of our banking system, probably saving that for Trump (if we have an election in November and we are able to overcome the 15MM fake votes for Biden, or whoever gets the nomination)

 

[Harpy Eagle]

Chase Bank customers could see some additional charges in the not too distant future.

The potential charges are a result of new regulatory rules that cap overdraft and late fees. 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.

Bidenomics wormed its way through the back door of banks via inflation and customers saving less. Now it wants in through the front door.

MSN

86 million customers should find a new bank, then Chase will stop doing this shit.

There are more than 4500 different banks in the US, not even counting credit unions.

 

[CrusaderFrank]

You have any idea how many commercial real estate loans are currently underwater?

 

[petro]

Chase Bank customers could see some additional charges in the not too distant future.

The potential charges are a result of new regulatory rules that cap overdraft and late fees. 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.

Bidenomics wormed its way through the back door of banks via inflation and customers saving less. Now it wants in through the front door.

MSN

Huh.
Figured this was about Wells Fargo.
They are doing the same shit.

 

[Harpy Eagle]

You have any idea how many commercial real estate loans are currently underwater?

The last number I recall seeing was 14 percent of commercial real estate loan market, including 44 percent of office loans

 

[pknopp]

You have any idea how many commercial real estate loans are currently underwater?

Those who refuse to learn from the past................................

Hopefully the taxpayers do but in reality I hold out little hope for that.

 

[Harpy Eagle]

Huh.
Figured this was about Wells Fargo.
They are doing the same shit.

They assume most people will not go through the hassle of changing banks for whatever small fee they add.

And they are probably correct

 

[konradv]

Capitalism says that if you fail you go bankrupt. Not get bailed out by taxpayers that you then screw over.

It's not complaining about capitalism. It's complaining because the capitalists don't actually believe in capitalism where it comes to them.

Trump has gone bankrupt, but got bailed out every time. Why does he get so many extra chances? Hell, he even bankrupted a pro football league. Talk about unAmerican!

#THIRDWAY

 

[pknopp]

Trump has gone bankrupt, but has gotten bailed out. Why does he get so many extra chances? Hell, he even bankrupted a pro football league!

#THIRDWAY

Don't ask me. I don't understand much of any of it.

 

[petro]

Just reading more on the Wells Fargo change. Not only are they adding a monthly $10 fee, but also charging their customers to use the ATM at $2.50 per withdrawal and even charging that for a balance inquiry.

That puts me right back in the bank using a live teller.

 

[The Sage of Main Street]

SpongeBob TDS

 

[struth]

The threat of charging for once-free services isn’t a new one. Over a decade ago, many banks said they would add a service fee onto debit cards because of regulatory changes. Few actually did, though, as the feared a consumer revolt.

We should have let them all go bankrupt in 2008.

Was JP Morgan Chase going bankrupt then?