Released: October 01, 2008

Financial crisis might mean higher fees for consumers

Source: Associated Press (Boston Globe) (Free Registration)

The sale of Wachovia’s deposits and other assets to Citigroup leaves the nation with three superbanks, reshaping the landscape in the midst of unprecedented financial upheaval.

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

Read Full Article: Financial crisis might mean higher fees for consumers