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.

  • oyo@lemm.ee
    link
    fedilink
    English
    arrow-up
    3
    ·
    4 months ago

    Yup, they’re a scam that just charges a fee to park your money in index funds.