real-time news and commentary for investors
Monday, Nov 14
2011, 4:11 PM
Chase (JPM) decides to scrap a $10 a month pilot program in Oklahoma that was aimed at gauging...
Chase (JPM) decides to scrap a $10 a month pilot program in Oklahoma that was aimed at gauging how customers would react to a fixed $10 monthly fee on checking accounts. While many banks charge customers monthly maintenance fees, the Chase program was different in that it didn't provide a way to avoid the fee by either carrying a larger balance, using direct deposit, or banking online. The decision by the bank follows a common theme of late whereby banks backtrack on new ways they find to stick consumers with fees.