Largest Consumer Bank Chase Hints Increased Cost To Consumers For Everyday Banking Services
Portfolio Pulse from Vandana Singh
Chase Bank, a division of JPMorgan Chase & Co. (NYSE:JPM), warns customers of potential new charges on bank accounts due to proposed regulations capping overdrafts and late fees. Free services like checking accounts and wealth management tools may soon incur fees.
July 05, 2024 | 3:02 pm
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Chase Bank, a division of JPMorgan Chase & Co., warns of potential new charges on bank accounts due to proposed regulations capping overdrafts and late fees. Free services like checking accounts and wealth management tools may soon incur fees.
The proposed regulations capping overdrafts and late fees will likely increase operational costs for Chase Bank. The bank plans to pass these costs onto consumers, which could lead to customer dissatisfaction and potential loss of accounts, negatively impacting JPMorgan Chase's revenues in the short term.
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