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.
That’s actually pretty nice
It is the best. Also, in the event someone gives you misinformation. Credit union accounts are insured as well for up to 250,000 just like regular banks, however they’re insured through NCUA rather than FDIC. even my parents who are well off and very intelligent even thought that credit unions weren’t properly insured. 🙃