this post was submitted on 06 Jul 2024
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JPMorgan Chase warns 86 million customers they might have to start paying for their bank accounts (finance.yahoo.com)
submitted 2 months ago by return2ozma@lemmy.world to c/personalfinance@lemmy.ml
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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.

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[–] bl4kers@lemmy.ml 10 points 2 months ago

The way you're presenting this seems pretty fishy. There's no way to guarantee an 18% return without an equal dose of risk. Interest on savings accounts are guaranteed, up until they change the rate. So that's apples to oranges.