Now We Realize How Banking Institutions Want To Replace With All That Lost Overdraft Fee Income

Now We Realize How Banking Institutions Want To Replace With All That Lost Overdraft Fee Income

Hot regarding the heels of US Express, JPMorgan Chase rolled down plans for the line that is new of debit cards this week. Through the company side, it is a number of reasons, which Reuters’ David Henry points away:

“A loophole within the 2010 Dodd-Frank reform that is financial enables banking institutions to charge merchants greater charges for processing payments fashioned with this particular debit card …

Chase, the bank’s retail arm, hopes the prepaid debit card may help it steer clear of the negative publicity that overdraft costs can garner.”

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