Banks search to replace overdraft fees

Daniels, Steve
April 2010
Crain's Chicago Business;4/12/2010, Vol. 33 Issue 15, p3
The article focuses on the consequences of reduction of revenue in the banking industry. It mentions that with the stricter rules on overdraft banking imposed by the U.S. government, banks across Chicago, Illinois, has decided to stop the free checking model. TCF Financial Corp. was the first to provide free checking has now decided to end it. According to Bill Cooper, chief executive officer (CEO) of TCF, the increase in service charges on deposits is due to the reduction in revenue.


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