cross-posted from: https://lemmy.world/post/17274141
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.
Remember the time i had to pay to bail them out because they are a bunch of greedy pigs? Fuck em all.
https://archive.nytimes.com/dealbook.nytimes.com/2008/03/18/jpmorgans-12-billion-bailout/
I don’t know if being forced to cease charging predatory fees should be considered “increased expenses”. You were taking money from customers that they didn’t have. It cost you nothing to do that. It costs you nothing to stop doing that. All you’re saying now is that “we can’t extort so much money out of you with overdraft fees anymore. So we’re going to figure out a different way to do it.”
Fucking gross.
Meanwhile my credit union pays me interest on my checking account.
Switched back to a CU a year ago, saving several hundred dollars a year now, at least.
Chase have been in the UK until really recently. Still giving 1% cashback on all transactions though.
Chase is trash
Do you think that gutting Chevron and the FTC’s regulatory authority has anything to do with this?
I mean, it’s not like banks aren’t already making buckets of money…
Not sure about that case specifically, but in general lack of regulation unleashes enshittificatory impulses. This comment may be aimed more at conservative voters or politicians to convince them (or at least let them claim) that pro-consumer regulation actually harms “consumer welfare.”
I’ve met one of these zero-regulation idiots thinking that somehow the average Joe benefits from giving all power to anyone with lots of money who isn’t them.
Just ask those dickholes how many times they’ve had the chance to vote for JP Morgan Chase’s or Walmart’s or ExxonMobil’s CEO.
Then ask them how many opportunities they’ve had to elect Presidents and Congressmembers.
And peopl3 say crypto is bullshit. Well they are right mostly but monero is clearly the best.
