We've heard about the death of free checking for a while, but it's not a done deal yet.
This month, overdraft fees will be a lot harder to collect. In addition, "swipe fees" from debit and credit card purchases are under fire. Banks expect to lose a lot of revenue soon.
Some banks have added fees to accounts that used to be free. Others grandfathered existing accounts, but will not offer the same free checking accounts we've had in the past.
Why all the fees? Banks make their case with a paper at the American Banker's Association's website. They explain some of the costs associated with your checking account, and challenges they face going forward. To view the document, visit the ABA's website (PDF Document).
What do you think of their position? Tell us about it in the comments.
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