“Banks like Chase charge consumers many fees for maintaining and accessing funds in their checking accounts – monthly fees, overdraft fees, failed payment fees, ATM withdrawal fees, failure to maintain a minimum balance fees, account closing fees, and more… There is no need for you to threaten your customers with higher fees when you and your bank are already making money hand-over-fist.”
It’s so nice to see that the art of letter writing isn’t dead. It’s great for catching up with old friends, or for publicly taking somebody to the woodshed.
Read the whole letter, which is mostly a response to Dimon’s criticism of Durbin’s legislation aimed at reforming debit card interchange fees, here.