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JPMorgan hasn't had to figure out how to make those customers profitable because they've been able to load them up with fees. New regulations are giving them th
by ahi 15y ago
JPMorgan hasn't had to figure out how to make those customers profitable because they've been able to load them up with fees. New regulations are giving them the option of pushing customers away, or figuring out how to make them profitable. Raise your hand if you think there's no efficiency gains to be had in banking services? They have been through this before when credit unions started offering free checking. Somehow they managed.
JPMorgan execs are saying they can't or won't adapt to the changing market. "We're a dinosaur. Save us Washington! Save us!" This article is part of their lobbying efforts. Entrepreneurs should see it as an opportunity.
- gaius 15y agoSave us Washington! Save us! But they are asking Washington to NOT do anything. This isn't a bailout.