Chase customers may soon be in for a very rude awakening. According to reports, the bank’s free checking accounts may soon no longer be free.
The Lowdown
A Chase executive has caused a stir after suggesting that due to new regulations that the bank may do away with free checking accounts.
According to this report, executive Marianne Lake recently made the comments just months after the Consumer Protection Bureau passed a series of rules requiring banks to reign in their often high fees.
Those rules sought to cap late payments for credit cards to $8 and $3 for overdrafted accounts.