this post was submitted on 06 Jul 2024
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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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[–] [email protected] 21 points 5 months ago (2 children)

I won’t shill any credit union, but do not have your paycheck deposited into a commercial bank account. Have it deposited into a reputable credit union.

[–] Grimace 4 points 5 months ago (1 children)

Why is that? Genuinely curious as someone who has a commercial bank account.

[–] tills13 13 points 5 months ago

Member owned and not required to turn a profit and grow revenues like a publicly offered corporate bank.