3 ms·
4. is one of the points that's being addressed by the amendment you're mentioning. In particular, it'll limit the fees that can be charged for things like debit
by orijing 15y ago
4. is one of the points that's being addressed by the amendment you're mentioning. In particular, it'll limit the fees that can be charged for things like debit cards, checking accounts, etc--the fees that made unprofitable customers profitable.
- dman 15y agoWhat happens when its no longer economically rational to service clients with small deposits - people forced to put money under their mattresses ?
- adrianparsons 15y agoMaybe smaller online banks (Banksimple, ING Direct) pick up the slack? Without physical branches to operate, maybe these kind of operations are more likely to make money off of checking accounts.
- JumpCrisscross 15y agoThere are lots of other fees to be had - "consultation fees" for coming in-branch, fees for new checks, fees for depositing checks, ATM fees, fees for lost debit cards, or requiring a customer post collateral to have a checking account in the first place (essentially go away).