Wednesday, February 29, 2012

JPmorgan bank fees

  • They are treading carefully though, cautious of igniting another customer backlash like the one that happened last fall with Bank of Americas proposed $5 monthly debit-card fee.
  • (Huffington Post)
  • Feb. 28 (Bloomberg) -- JPMorgan Chase Co., the largest U.S. bank by assets, said about 70 percent of customers with less than $100,000 in deposits and investments will be unprofitable following regulations that cap lenders' fees.
  • (Businessweek)
  • But there is an economic foundation underlying the banks sentiment. JPMorgan is focusing on its more well-heeled customers because financial regulators are making it a tad more difficult to charge fees whenever they feel like it.
  • (Huffington Post)
  • Bank fee income, already under pressure from a host of new regulations Amendment and has estimated an annual revenue loss of $2 billion from the rule.
  • (Forbes)
  • Like most states, Rhode Island contracts with a bank to provide unemployment benefits through a debit card. JPMorgan Chase agreed to operate the system at no cost to the state — if it could charge fees to those receiving unemployment benefits.
  • (Worcester Telegram & Gazette)
  • Community Banks Javelin compared fees for the largest financial firms to those of mid-size institutions and community banks. The largest group had about $179 billion to $2.3 trillion in assets and included Bank of America Corp.
  • (BusinessWeek)
  • JPMorgan Chase has reached a preliminary agreement to pay The customers say the banks reorder debit-card transactions in their computers to maximize overdraft fees. Bank of America, the second-biggest U.S.
  • (Seattle Times)
  • Retailers fought back last year saying those fees should be lowered. They won. Today there's a cap on how much banks can charge retailers per debit swipe.
  • (Forbes)
  • A 2008 study by the Federal Deposit Insurance Corp., a bank regulator, found that consumers who overdrew their accounts 20 or more times annually paid an average of $1,610 in fees. Large banks such as JPMorgan Chase Co.
  • (Akron Beacon Journal)

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