TITLE

Banks search to replace overdraft fees

AUTHOR(S)
Daniels, Steve
PUB. DATE
April 2010
SOURCE
Crain's Chicago Business;4/12/2010, Vol. 33 Issue 15, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
49163884

 

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