Fallout from financial bill could bring array of new bank fees
Expecting big drops in revenue from the financial overhaul, the nation’s biggest banks are looking to Main Street to make up the difference. Checking accounts, bank statements and visits to a local branch could come at a cost as the nation’s largest banks scramble to offset expected damage from the overhaul. The uncertainty has overshadowed strong secondquarter earnings at JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp.
All three companies beat expectations this week, but their stocks tumbled, helping send the wider market sharply lower Friday.