This is the story that YOU wanted to hear us talk about! It received 70 percent of the vote in our Radioactive poll!
We’re all aware (but unhappy) that some banks charge fees for basically everything you do, whether it be transferring money or paying a bill.
But according to USA Today, some banks may begin charging consumers to deposit money should the Federal Reserve chose to cut an interest rate.
Analysts and industry representatives say such a scenario is highly unlikely, though one official says certain businesses could be hit with deposit fees if the Fed actually cut the rate, which at least for now appears far from certain.
“We have no intention of charging for retail customer deposits,” says JPMorgan Chase spokeswoman Kristin Lemkau.
Officials from other banks declined to comment.
The Fed may cut a 0.25 percent interest rate on money that banks keep at the Fed.
- Sheriff Paul Penzone looking to eliminate ‘Tent City’ phrase in 2018
- ‘America’s Got Talent’ contestant Evie Clair sings Christmas carols
- One year in, Paul Penzone continues to address ‘culture of hate’ claims
- Weekend wrap-up: Biggest stories from past weekend in Arizona, nation
- Palo Verde Middle School teacher gets monthly KTAR News award