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Thursday, October 9, 2008

Bank of America, Citigroup and JP Morgan Chase to Raise Fees




Oct 09, 2008 Best-Mortgage-Companies.com

The sale of Wachovia's banking operations and other assets to Citigroup on Monday leaves the nation with three only megabanks to set the rules: Bank of America, Citigroup and JP Morgan Chase

For customers of those institutions , the consolidation may result in higher fees on everything from checking accounts to bounced checks and overdrafts, and lower interest-rate yields on deposit accounts, banking experts said.

Loan availability also remains in question , as liquidity won’t return to mortgage-backed securities in the near term after the bailout plan passed through Congress.
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